LONDON (AP) — The English Premier League has taken another step toward introducing a spending cap.
At a shareholders’ meeting in London on Monday, the top-flight teams voted to progress to the final stage of a legal and economic analysis of the “anchoring” principle.
That system would limit — or anchor — the spending by all clubs to a multiple of the combined prize money and cash from TV rights earned by the last-placed team in the league. As a consequence, it would reduce the potential spending power of the clubs with the biggest revenues and richest owners, helping to increase the competitiveness of the league.
Clubs might get the opportunity to vote at the league’s annual general meeting in June on whether to adopt the spending cap, depending on the progress made in finalizing a proposal. There was no official announcement by the Premier League on the matter.
Mystery artist who erected signs comparing pothole
At least 70 people killed by flooding in Kenya as more rain is expected through the weekend
Army veteran, 60, tucks into tinned Tesco meatballs 11 years past their use
Here are 14 players to watch next season across the Southeastern Conference
Candice Swanepoel stuns in a form
Judge upholds disqualification of challenger to judge in Trump’s Georgia election interference case
Trading Trump: Truth Social's first month of trading has sent investors on a ride
Sergei Bobrovsky makes 26 saves, Panthers beat Lightning 5
Siblings trying to make US water polo teams for Paris Olympics
Bairstow's unbeaten century leads Punjab to highest run chase in IPL history
'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
Terrifying moment gunman, 22, opens fire on Birmingham street packed with bars and pubs