By Andrew Warshaw
November 16 – England’s top-flight clubs have agreed in principle to introduce a model similar to UEFA’s Financial Fair Play rules that ensure teams breakeven.
Although there was no formal agreement between the 20 chairmen and chief executives over how to cut costs, there was general agreement at a meeting in London that something had to be done to find a collective way of preventing losses before the start of next season.
Salary caps or limiting clubs’ spending to a percentage of turnover were given short shrift by the clubs who have now held five meetings to try to turn their individual requirements into some kind of consensus.
West Ham co-owner David Gold said: “There have been no decisions made.
“The debate carries on.
“I am hoping that we can come to some conclusions for the best interest of the football clubs and the league as whole.”
Swansea chairman Huw Jenkins said he was hopeful an agreement could be reached. “I think we will get a consensus on this.
“Over the next few months we should get something in place, most likely before the start of next season.
“We are looking at the Financial Fair Play rules and introducing that throughout the Premier League for the good of everyone in the Premier League and for the good of the game.”
A vote of a breakeven rule would mark a major step forward.
Champions Manchester City (pictured top), for example, made a £197 million ($313 million/€246 million) loss in their latest set of results, while Premier League clubs made cumulative losses of £361 million ($573 million/€450 million) in 2010-2011, the most recent season for which there are complete financial results.
Although there is an appetite for wage controls, 14 or more clubs need to back any proposal before it can happen.
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