The majority Premier League clubs have voted in favour of introducing a spending cap in principle in an unprecedented move that will impact Arsenal, Chelsea and Tottenham.

A new ‘anchoring’ proposal - whereby clubs are permitted to spend a certain multiple amount of the bottom club’s TV and commerical revenue - received 16 votes for approval, with three opposing the move and one abstaining.

The Daily Mail says Chelsea refrained from casting a vote while Manchester United, Manchester City and Aston Villa were against the move. It would therefore infer that Arsenal and Tottenham voted in favour of the proposal.

The vote over the new financial regulations took place on Monday with finer details to be discussed ahead of the Premier League’s AGM in June. In order for the notion to be passed, 14 clubs must vote in favour.

The regulations have been proposed to make the top-flight more competitive and to cut the gap between the big six clubs and the rest. Some have argued that current Premier League Profit & Sustainability Rules punish those who try to narrow the chasm.

More to follow...

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