A recent development in the Premier League saw clubs coming together to approve a proposal aimed at placing restrictions on spending related to transfers, wages, and agent fees, as reported by the UK Times.
Under this proposal, top clubs will have their spending limited to a predetermined amount, equivalent to what the bottom-ranked side receives in TV revenue.
The vote, which took place on Monday, resulted in unanimous approval, meeting the required majority of 14 votes.
During the Premier League shareholders’ meeting, the proposal garnered support from 16 out of the 20 teams participating.
Interestingly, Manchester City, Manchester United, and Aston Villa expressed dissent by voting against the proposal, while Chelsea chose to abstain.
The objective behind this move is to foster a more competitive environment within the Premier League, alleviating the dominance of a select few immensely affluent clubs.