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.
Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
Police chief charged over Seoul Halloween crush that killed 159
You don’t have to go full vegetarian to reduce your carbon footprint
Rogue digital billboard making fun of Waka Kotahi removed
‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad
Chinese company says coronavirus vaccine ready by early 2021
Screening of Hong Kong Poly U siege documentary slammed by pro
ACT leader David Seymour expects Waitangi events will be 'tense'
Lynn Williams breaks NWSL goal
Labour's Rino Tirikatene retires from politics
'The Apprentice,' about a young Donald Trump, premieres in Cannes
Tear gas as crowds clash with riot police in Russia