19 Dec 2012

Premier League clubs agree to cost controls

12:19 pm on 19 December 2012

English football's 20 Premier League football clubs have agreed in principle to introduce radical new cost controls, following a season in which the top clubs lost a cumulative 361 million pounds.

There are two main proposals on the table - a break even rule, and a cap on the amount clubs can increase their wage bills each season.

Club chief executives have been asked to produced detailed plans for exactly how the proposals would work.

Manchester City, which lost nearly 100 million pounds in 2010-11, and Fulham are believed to be the only two clubs opposed to curbs on spending.

Any new rule would require the approval of only 14 of the 20 clubs.