According to The Times' Martyn Ziegler, clubs have agreed in principle on a Premier League spending cap.
The cap would restrict top teams' spending on transfers, wages, and agents, as four clubs failed to support the idea.
Manchester United, Manchester City and Aston Villa rejected the proposal, while Chelsea abstained from voting.
The other 16 clubs agreed in principle on the proposal, which will now go to the Annual General Meeting (AGM).
The Professional Footballers' Association's (PFA) response was:
“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.”
How will the Premier League spending cap affect clubs?
The Premier League spending cap is designed to limit the top clubs on what they can spend on transfers, wages and agents. Traditionally, the ‘big six' have been far above the rest of the league in these metrics, and the league prides itself on being one of if not the most competitive in the world.
However, the levels of spending from some clubs have seemingly gotten out of hand, with the likes of Chelsea blowing over £1bn under their new owners, and Manchester City and Newcastle United effectively being backed by states.
The former have won six of the last seven league titles, and could make it seven from eight this season.
For the league to remain competitive, there does have to be a balance on what each club can spend and the bigger clubs will always have an advantage with the revenue they generate compared to the smaller ones.
Therefore, it is no surprise that three of the ‘big six' and the ambitious Aston Villa oppose the proposal.
Hopefully, the agreement will benefit all and continue to make the Premier League the most exciting to watch.
