Premier League clubs agree cost-control measures

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Associated Press

Posted on February 7, 2013 at 12:01 PM

Updated Thursday, Feb 7 at 12:02 PM

LONDON (AP) — English Premier League clubs have agreed to cost-control measures, responding to concerns about spiraling wages.

West Ham co-chairman David Gold says clubs voted overwhelmingly on Thursday to adopt a cap on wage increases.

UEFA warned on Monday that the failure to control salaries, which have risen 40 percent at leading European clubs in five years, was endangering the future of European soccer.

The Premier League also wants to ensure the expected $8 billion being generated by a new three-year television rights deal isn't misspent by clubs. The details of the rules will be voted on by the main Premier League board in April.

Premier League clubs in European competitions have to abide by the financial fair play rules introduced by UEFA and eventually break even on soccer-related business.

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