LONDON, England (Reuters) – The Premier League’s profit and sustainability rules (PSR) will remain in place for next season, according to media reports, delaying the introduction of a new set of financial regulations.
The league’s clubs met in London on Thursday with the implementation of the new Squad Cost Rules (SCR) one of the topics on the table.
While no vote was held, according to a report by the Athletic, clubs decided to continue discussions around the new regulations after agreeing that they would not be ready in time for next season.
That means that the profit and sustainability rules — introduced in 2015-16 to prevent clubs from overspending — would remain in place.
The league did not immediately reply to a request for comment.
PSR permit clubs to lose no more than 105 million pounds ($131 million) in a three-year cycle.
SCR’s proposed rules would limit clubs’ spending on player wages, transfers, and agents’ fees to 85% of their revenue, which is similar to UEFA’s financial sustainability rules that are set at 70%.
Manchester City, Newcastle United and Aston Villa are among the clubs that have criticised PSR as limiting their ability to spend during transfer windows.
City are facing charges of breaching 115 financial rules between a period starting from 2009 and continuing into the 2022-23 season. City have denied wrongdoing.
A 12-week hearing was conducted by an independent commission and concluded on Dec. 6, with a verdict expected next month.
($1 = 0.7983 pounds)
(Reporting by Lori Ewing; Editing by Toby Davis)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.