Premier League Clubs Agree to Spending Cap Tied to TV Revenue, Final Vote in June

Apr 29, 2024, 03:24 PM

Premier League clubs have agreed in principle to introduce a spending cap, which will anchor team expenditures to approximately five times the TV revenue of the club with the lowest earnings. The decision came after a vote where Manchester United, Manchester City, and Aston Villa opposed the measure, and Chelsea abstained. The proposal, discussed at a shareholders' meeting at The Churchill hotel in London, aims to regulate spending on transfers, wages, and agent fees. A final vote on this measure is expected in June, with the cap potentially coming into effect for the 2025-26 season. Notably, 16 clubs voted in favour of the cap.