Premier League clubs are expected to vote in February on financial controls designed to prevent a new influx of television money from being spent on higher wages. The 20 clubs who met in London on Tuesday have asked the Premier League to work on two proposals to ensure that the world's richest league remains financially stable.
The first would be modelled on Uefa's financial fair play system and would require clubs to move towards break-even, while the second would place an annual limit on the how much salaries could increase. The support of 14 clubs is needed for any proposal to be adopted.
The Premier League is set for a big increase in television revenues from next season when BSkyB and BT will pay £1bn per season for domestic TV rights in a three-year deal worth 70% more than the current one. Sales of overseas rights are expected to bring in up to £2bn over the next three years. Wages account for 70% of revenues at many Premier League clubs.
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