February 14 – The Premier League’s profit and sustainability rules (PSR), designed to prevent clubs from overspending, will remain in place for at least one more season, delaying the introduction of a new set of financial regulations.
The clubs met in London on Thursday with the implementation of the so-called Squad Cost Rules (SCR) one of the topics on the table.
While no vote was held, clubs decided to continue discussions around the new regulations after agreeing that they would not be ready in time for next season.
That means that the profit and sustainability rules – introduced in 2015-16 – would remain in place. PSR permit clubs to lose no more than £105 million in a three-year cycle.
SCR’s proposed rules, by contrast, would limit clubs’ spending on player wages, transfers, and agents’ fees to 85% of its revenue, which is similar to UEFA’s financial sustainability rules that are set at 70%.
Manchester City, Newcastle United and Aston Villa are among the clubs that have criticised PSR for limiting their ability to spend during transfer windows. City are facing charges of breaching 115 financial rules between a period starting from 2009 and continuing into the 2022-23 season. A 12-week hearing was conducted by an independent commission and concluded on December 6, with an eagerly awaited verdict expected next month.
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