Premier League clubs agree salary cap

Premier League clubs on Monday, voted in favour of a proposal that would impose restrictions on spending on transfers, wages and agent fees, the UK Times reports.

The proposal will limit spending for top clubs to a fixed amount that the bottom side receives in TV money.

It was a unanimous vote, which was achieved with the necessary majority of 14 votes.

At the Premier League shareholders’ meeting, the proposal got the support of 16 of the 20 teams.

Manchester City, Manchester United and Aston Villa voted against it. Chelsea opted to abstain.

The idea is that stopping clubs from spending so freely will create a more competitive Premier League, rather than one that is dominated by only one or two extremely wealthy clubs.