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.
Company wins court ruling to continue development of Michigan factory serving EV industry
Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS
OpenAI pauses ChatGPT voice after Scarlett Johansson comparisons
Yvette Fielding says her Most Haunted co
Verona confirms Serie A status for another year after beating Salernitana
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
Saudi Arabia is going to sponsor the WTA women's tennis rankings under a new partnership
Minnesota Uber and Lyft driver pay package beats deadline to win approval in Legislature
NBA playoffs: Edwards leads Wolves to 98
Kristin Cavallari, 37, ignores critics of her age
The unstoppable duo of Emma Stone and Yorgos Lanthimos