Premier League chairmen agree to spending controls

Manchester City, Fulham and Aston Villa opposed to plans

May 13, 2012: Manchester City captain Vincent Kompany lifts the English Premier League trophy following their soccer match against Queens Park Rangers at the Etihad Stadium in Manchester, northern England. (Reuters)

The 20 Premier League chairmen have agreed in principle for clubs to have to break even, despite some opposition at a meeting today.

However the exact details of the spending controls has yet to be agreed - specifically around how much wealthy owners can put into the club to cover losses, sources close to the process have disclosed.

The club chairmen have now asked PL executives to bring back detailed plans on the spending controls for the next meeting on February 6, and on proposals to cap wage rises for players in the short term.

It is understood Manchester City, Fulham and Aston Villa remained opposed to any controls but approval by only 14 of the 20 clubs is needed for the moves to go through.

PA