Championship clubs adopt spending rules

Championship clubs making losses of more than £6m will be fined or put under a transfer embargo from the 2014-15 season.

Under new rules on spending agreed yesterday owners will be allowed to invest £6m next season, £5m the year after, then £3m in the 2014-15 season. From 2015-16, clubs will be allowed to make a £2m operating loss, as well as accept £3m owner investment.

Clubs promoted to the Premier League that fail to adhere to the rules must pay a tax on their losses, ranging from one per cent on the first £100,000 to 100 per cent on anything over £10m. A transfer embargo will be imposed on non-promoted clubs.