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29th April 2024
03:31pm BST
The Premier League has agreed a deal in principle to impose a spending cap on the league.
According to The Times, an agreement was made between clubs in the league on Monday and a final decision will be made at the upcoming AGM.
Manchester United, Manchester City and Aston Villa were reportedly the three clubs that voted against the idea, which will see a crackdown on player wages following concerns in gulf in terms of financial power between the top and bottom clubs.
Chelsea abstained from the vote while the other 16 voted in favour.
As part of the deal, the cap will be tied to the lowest amount of money earned in television rights by one club in the top flight.
Specific details of the cap are yet to be finalised but will be discussed at the upcoming meeting in June.
A statement from a PFA spokesperson meanwhile stated that they would be against any introduction of a "hard" cap.
"We’ll wait to see details of proposals but we would oppose any measure that would place a ‘hard’ cap on player wages. There is an established process in place to ensure proposals like this, which would directly impact our members, have to be properly consulted on," they said.
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