The BBC reports. The decision means that for the first time a ceiling will be set on how much PL clubs can spend on transfers, salaries and agent fees in the future.
The details are expected to be in place before the annual meeting in June. One must, among other things, agree on the size of the cost ceiling.
According to the English media, the Premier League majority has supported the principle that no one can spend more than a given number of times the amount the league’s worst team receives in TV money.
The purpose of the restriction is to ensure that England’s top division remains competitive. Many fear that the league will be dominated by one or two super-rich clubs if action is not taken.
All proposals at a shareholder meeting in the Premier League require a clear majority to be adopted. At least 14 out of 20 clubs must say yes.
Before the vote, it was reported that Manchester City were expected to be completely opposed to a cost cap. The club has had a ruling Middle Eastern owner since 2008 and won five of the last six Premier League titles. In the next few weeks, the light blue can win the series for the fourth year in a row.
Manchester United will also be a strong opponent of a new spending limit, The Times wrote on Monday.
The Premier League has previously introduced a rule that limits clubs to spending up to 85 percent of their total income on wages and transfers. The scheme applies from the 2025/26 season.
