Old Trafford

Next Game

Man Utd v Tottenham

Saturday, 08 August 2015, 12:45

Barclays Prem

Clubs back financial reform

Premier League clubs have voted "overwhelmingly" in favour of introducing financial restrictions, according to West Ham joint-chairman David Gold.

Last Updated: 11/04/13 at 07:11 Post Comment

David Gold: Represented West Ham at meeting of 20 clubs

David Gold: Represented West Ham at meeting of 20 clubs

Representatives of the clubs initially met in December to discuss proposals which would impose short-term limits on wage rises and force clubs to work towards breaking even.

The 20 members agreed to reconvene this week, when 14 votes were required to approve the proposals.

Full details of the agreement are expected to be disclosed later on Thursday, but Gold emerged from the vote to tell Sky Sports News: "The clubs supported change.

"We've all voted and it was overwhelmingly supported. Some clubs are a little concerned, but the vast majority voted in favour.

"That will now go to the board for putting into rules, and we'll vote on that in April.

"It's not a salary cap, it's a restraint on over-spending. If clubs increase their revenues then they can increase their spending. We have got restraint, that's the important thing."

The possibility of regulation has arisen against the backdrop of UEFA's Financial Fair Play initiative.

Under UEFA's new rules clubs are being forced to minimise losses or risk the possibility of exclusion from European competition from 2014/15.

To find out more about live football on Sky Sports, Click here

Related News

Most Commented

Readers' Comments

D

on't go to England at your age, you'll either be mugged or not appreciated. Or made to lump the ball long to a bloke who looks like a mascot.

megabrow (cufc)
Beckenbauer warns Schweinsteiger

F

rom the headline I presumed he meant boots, pants, jim-jams, toothbrush and paste, passport, tickets, premier inn long-term package, Scouse-English-Portuguese-German dictionary, 'How to be a 9 and 3/4' by B. Rodgers, few dozen tins of food and Evian because you can never be sure about the local food/water...

KevinBoatang
Firmino has 'everything' for PL - Willian

H

e looked like he was playing with a plastic pound shop ball in the wind against Juve, his passing was so bad.

paddy7s
Sergio Ramos: Exactly What United Need

Footer 365

Sergio Ramos has refused to discuss interest from Manchester United

Real Madrid defender Sergio Ramos has raised further question marks over his future after a coy response concerning interest from Manchester United.

Van Persie 'agrees Fenerbahce terms'

Manchester United striker Robin van Persie is close to joining Fenerbahce after reportedly agreeing terms with the Turkish club.

Roma keen to sign Man City striker Edin Dzeko but admit a transfer is not close

Roma have confirmed their interest in signing Manchester City striker Edin Dzeko this summer - but admit a deal is some distance from being agreed.

Mail Box

Has Everyone Forgotten About Khedira?

Sami Khedira is one of the signings of the summer and yet he's flown completely under the radar. Plus Dommy S's views of women's football get a right old shoeing...

Women's Success Won't Alter Viewing Habits

The Women's World Cup hasn't inspired everyone. Also in the Mailbox: a plastic's guide to Brazil, Nani regrets, tears over Henry, and The Beach Boys...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company