The Premier League took a significant step towards spending controls after agreeing in principle to make breaking even a necessity for clubs.
The move was agreed by the majority of the 20 chairmen despite some ongoing opposition from a minority of clubs, Manchester City/Fulham/Aston Villa, at a meeting in London on Tuesday.
While the exact details are yet to be finalised, the club chairmen have now put their case to the Premier League executives to bring back much more detailed plans on spending controls for the next meeting on February 6, and on proposals to cap wage rises for players in the short term.
When the details are finalised 14 out of the 20 clubs would need to agree before the measures could be put in place, but as only three seem against them now this might make it through.
This does prove how useless and ineffective UEFA’s financial fair play rules are as the Premier League clubs felt the need to meet and introduce their own system.
It should also be pointed out that if this system is actually put in place UEFA and FIFA should ensure that all the other leagues follow suit otherwise any English club who plays in Europe will be at a disadvantage.
But for now the Premier League clubs have shown that they are, finally, prepared to be responsible and stop clubs operating with huge losses.
This will also curb the power that players have over clubs which has reached farcical levels, and it should also make the Premier League more competitive.
Hopefully on February 6 the detailed plans will be agreed on and we could see these measures introduced by the start of next season.
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