Writer: Tim Stillman
Date:Friday February 8 2013
Yesterday, Premier League clubs voted for new legislation on spending, with a less stringent version of UEFA's Financial Fair Play regulations set to be enforced in England's top flight from 2013/14.
The Football Association have not been involved in these talks, but Premier League bigwig Richard Scudamore suggests there will be an 'absolute prohibition' on clubs posting losses of £105m over the next three years. Any club making a loss of £5m a year will have be obliged to guarantee those losses against the owner's assets.
A restriction on salary increases will also be implemented. Premier League clubs are restricted in terms the amount of increased PL Central Funds that can be used to increase current player wage costs to the tune of:
The Short Term Cost Control measure applies only to clubs with a player wage bill in excess of £52m in 2013/14, £56m in 2014/15 and £60m in 2015/16.
Premier League Chief Executive Richard Scudamore said, 'Normally we stay silent on sanctions as the commission has a free range but clearly if there is a material breach of that rule we will be asking the commission to consider top-end sanctions.'
He added: 'The balance we have tried to strike is that a new owner can still invest a decent amount of money to improve their club but they are not going to be throwing hundreds and hundreds of millions in a very short period of time.
'While it has worked for a couple of clubs in the last 10 years, and I am not critical of that, if that's going to be done in the future it's going to have to be over a slightly longer term without the huge losses being made.'
13 Premier League clubs voted for the new sanctions, 6 voted against. Reading obstained from the vote.
Date:Friday February 8 2013
Arsenal v Everton Match Preview (Saturday February 28 2015)
Wenger Backs Giroud To Respond (Friday February 27 2015)
Wenger - Everton Response Is Important (Friday February 27 2015)
The Arsenal Injury Table... Walking Wounded List! (Friday February 27 2015)
Wilshere Does Undergo Another Surgery (Friday February 27 2015)
Audio - A Marsh Reaction To Monaco (Thursday February 26 2015)
Mertesacker - We Must Be Brave In Monaco (Thursday February 26 2015)
Wenger - Suicide Isn't Painless Against Monaco (Thursday February 26 2015)
Wenger Blames Defeat On Suicidal Defending (Thursday February 26 2015)
Stats: Arsenal v Monaco (Thursday February 26 2015)
|2. Man City||26||16||7||3||31||55|
|3. Man Utd||27||14||8||5||20||50|
|40 Points, Up to 8th In The League!
» Swansea : 28/02/2015 18:48:00
|Liverpool: Lawro Predicts 2014-15 - Man City (H)
» Liverpool : 28/02/2015 18:43:00
|AUDIO - Sam`s Disappointment
» West Ham : 28/02/2015 17:58:00
|Good Positive Post Match Interview From Sherwood
» Aston Villa : 28/02/2015 17:55:00
» Sunderland : 28/02/2015 17:29:00