Premier League nears Spending Cap implementation, despite trio abstaining it

A plethora of Premier League clubs have indeed voted to explore some measures that include putting a cap on player spending, but the trio - Manchester United, Manchester City, and Aston Villa are voting against them. However, there are new plans for anchoring the concept that is set to limit spending on wages and can transfer funds as agents, based on TV revenue generated by the club.

Notably, a few sources have confirmed that around 16 clubs have voted in favour of subjecting the anchoring proposal to full economic and legal analysis. However, following the same, Chelsea abstained from the same. However, it appears that passing the motion gave a strong indication of anchoring support but also revealed the hurdles.

Meanwhile, according to speculation, the conversations between the League and PFA are set to take place over the next month. However, Premier League expenses have revealed that this would not count as hard spending in the cap.

Moreover, the league has further revealed details about how rules will be worked out after economic and legal analysis, leaving open the possibility that clubs could be allowed to spend more than the allotted figures. However, the Premier League plans to introduce new financial regulations to the vote at its AGM in June.

'People need to be bold'

“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,” the Professional Footballers' Association said.

"As far as competitive balance [is concerned], people need to be bold. UEFA’s squad-cost caps are one idea. Maybe something that is a bit more rigid than that, with a hard cap at the top, that doesn’t take turnover into account, where there are vagaries of how that turnover comes about. There are really positive conversations going on about it," Crystal Palace chairman Steve Parish said.