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.
Kate Hudson hits the stage to debut songs from her new album Glorious at star
Homeless woman was living inside Michigan rooftop store sign with computer and coffee maker
Bungalow wars! Downsizers are in bidding battles against young families as prices soar
I spent hundreds on my daughter's birthday party and no one came
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Ikea recreates Doja Cat's avant
John Leguizamo reveals he TURNED DOWN Stanley Tucci's role in The Devil Wears Prada
A year after winning in pro debut, Rose Zhang takes Founders Cup lead with career
Pope trip to Luxembourg, Belgium confirmed for September, 2 weeks after challenging Asia visit
Closure of California federal prison was poorly planned, judge says in ordering further monitoring
Six killed in a 'foiled coup' in Congo, the army says
Saints sign their top draft choice, offensive tackle Taliese Fuaga