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.
Pentagon vows to keep weapons moving to Ukraine as Kyiv faces a renewed assault by Russia
Wisconsin man pleads not guilty to neglect in disappearance of boy
People with disabilities sue in Wisconsin over lack of electronic absentee ballots
Liverpool confirms Arne Slot as Jurgen Klopp's replacement
Portland makes coaching move following the Thorns' poor start
EU, G7 leaders urge preventing escalation in Mideast
Experts reveal the most stressful time of day... and how YOU can ease the pressure
What a blast to work at NASA. Space agency is sky
Outfielder Tommy Pham finalizes minor league deal with slumping White Sox
Not so Cool Britannia! Noel Gallagher gives damning verdict on Keir Starmer
Zach Werenski scores twice as Blue Jackets beat playoff