Premier League Clubs Vote in Favor of Spending Cap

The British Broadcasting Corporation (BBC) reported on Monday that the "Premier League football clubs have agreed in principle to implement a spending cap after receiving majority support, with a final vote expected in June." The clubs have tentatively approved a limit on the amount of money that can be spent, which will be based on the revenue generated by the least profitable club in the league from broadcasting rights. The Athletic stated that "the measure was discussed at a meeting of Premier League stakeholders in London today, adding that the cap could come into effect by the 2025-2026 season." The Independent reported that "16 clubs voted in favor of the new proposal, while Chelsea abstained from voting and Manchester City, Manchester United, and Aston Villa opposed it."