By Humberto Viera
Apr 29, 2024, 3:24 PM EDT
The English Premier League has taken an important step towards implementing a salary cap for its clubs, a measure that seeks to level the playing field and stop the escalation of exorbitant spending on transfers and salaries.
As reported by EFE citing Sky Sports, the majority of clubs voted in favor of carrying out the necessary legal and economic studies to develop a model that limits the salaries of stars based on the income of each team. The final decision will be made at the general assembly in June, but if approved, the new rules would come into force from the 2025/26 season.
The initiative has been opposed by the most powerful clubs, such as Manchester United, Manchester City and Aston Villa, while Arsenal abstained. However, the most modest teams have welcomed the measure, as they consider that the current rules disproportionately favor rich clubs and punish smaller ones.
🚨 Premier League clubs have agreed in principle to a spending cap. This will anchor spendings to around five times the TV revenue of bottom club.
Understand Man City, Man United and Aston Villa voted against the move. Chelsea abstained. Change to be ratified this summer. pic.twitter.com/HcomuFsudY
— Ben Jacobs (@JacobsBen) April 29, 2024
The new cap would apply to player salaries, but also to transfer prices and agent commissions. The details are not yet defined, but it is estimated that clubs that do not play in European competitions could spend up to 85% of their income on their squad, while for teams that do participate in Europe the figure would be reduced to 70%.
To prevent the richest clubs from benefiting excessively, an “anchor” would be established to regulate the annual cap. This cap would be calculated by multiplying the amount received by the Premier club that charges the least for its television rights by a factor yet to be defined.
The implementation of a salary cap in the Premier League would mark a historic milestone in world football and could have a significant impact on the competitiveness of the league, especially to the benefit of smaller clubs.
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