Premier League clubs agree salary cap

According to the UK Times, Premier League teams approved a proposal on Monday that would limit their ability to spend money on agent fees, wages, and transfers.

The proposal would cap top clubs’ expenditure at a certain amount of TV money received by the bottom team.

A unanimous decision was made after obtaining the requisite 14 votes.

Sixteen out of the twenty teams in the Premier League supported the proposition at the shareholders’ meeting.

Aston Villa, Manchester United, and Manchester City all voted against it. Chelsea decided to hold off.

The idea is that if clubs are prevented from overspending, the Premier League will become more competitive as opposed to being controlled by only one or two very wealthy clubs.

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