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Published on 2024-02-08 16:00:00
Manchester United and Manchester City are reportedly joining forces to advocate for new financial regulations in the Premier League.
According to sources, both clubs are in favor of eliminating the current Profit and Sustainability Rules used in the league.
All 20 Premier League clubs are expected to convene this week to discuss potential changes to financial regulations.
Sky Sports has reported that the meeting will include deliberations on replacing the current rules with new Financial Fair Play regulations that align with Uefa’s policy.
Uefa’s Financial Sustainability model imposes a cap on club spending on wages, transfers, and agent fees as a percentage of their overall revenue.
The Premier League is considering setting a cap of around 85 percent of overall club revenue, with penalties for any overspending.
The existing Profit and Sustainability Rules state that clubs can lose a maximum of £105 million over three years, with £90 million of that figure sourced through owner investment.
Everton found themselves in breach of these regulations due to construction costs associated with their new stadium. As a result, they were deducted 10 points and now face a second charge for the same offense alongside Nottingham Forest.
Both Manchester United and Manchester City are set to advocate for the regulatory changes. Under the current rules, Manchester United, for instance, struggled to spend money on new transfers over the January window due to their restricted budget.
On the other hand, City, which has not faced budget issues under the current rules, has been charged with 115 alleged Financial Fair Play breaches over nine seasons.
Pep Guardiola’s squad broke the Premier League record for revenue generated in 2022-23 with £712 million, while Manchester United trail closely behind with £648 million.
It is also reported that the two clubs with the highest revenue in the league will support the regulation changes.
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Read Original article on Football Insider
