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.
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
Maritime Day of China Marked in NE China's Liaoning
China's Online Payment Users Top 900 Mln: Report
Digital Economy Provides Enormous Opportunities for Women
Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
China Wins Artistic Swimming Team Technical at FINA Worlds
China Tops the World in Globally Important Agricultural Heritage Systems
Record 11.93 Mln Students to Take China's College Entrance Exam
Yu Darvish extends scoreless innings streak to 25 in Padres' 9
Hongniya Village Takes Measures to Boost Rural Revitalization in Shandong
Georgia Republicans choose Amy Kremer, organizer of pro
Technologies Aid Efforts to Raise Public Awareness of Cultural Relic Restoration