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Tyne Talk

Financial Controls Move Closer For Next Season

8 years ago

A meeting of Premier League Chairmen has failed to agree exactly how to control costs but are hoping to agree the exact details at their next meeting in February, with rules coming into force for next season.

Coincidentally this is when the money from the new TV deals will first come into play and every club expected to benefit to the tune of tens of millions of pounds.

The meeting last Thursday predictably saw clubs pushing their own interests, with the likes of Manchester United and Arsenal, with the huge turnovers they generate, wanting clubs to have to break even every season.

At the other extreme, Fulham want there to be no restrictions at all, little wonder when they typify the rich benefactor model.

Sunderland and some other clubs want the restrictions to simply be a limit on how much yearly spending on wages can rise.

With five meetings already, it shows the Premier League owners mean business and will definitely push something through.

Ever increasing TV deals have simply seen wages going up by the same amount and more.

As an example of how likely restrictions are to come into force, Manchester United have already reassured its Wall Street investors that the club will still remain competitive on the pitch no matter what the nature of the controls are.

There wasn’t any indication of which group Newcastle United threw their cap in with but Mike Ashley has already made it well known that whatever the Premier League as a whole, the model of the rich benefactor putting his own money in just isn’t going to happen in the future at St.James’ Park.

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