Financial Fair Play gets the seal of approval

Roman Abramovich, Chelsea

Chelsea owner Roman Abramovich joins the chairman of the other 19 Premier League clubs today to discuss the introduction of Fifa Financial Fair Play into English football and vote on whether they want it to go ahead.

The meeting, held by the Premier League, will discuss a wage cap increase and a compromise financial fair play deal. Two proposals have been put forward – a long term financial fair play policy of breaking even, and a salary cap which only enables clubs to raise wages yearly. The spending cap will be placed at £52million so that it does not affect newly promoted sides from buying players.

According to Sky Sports, David Gill, Ivan Gazidis and Daniel Levy are all in strong support of the long term proposal and feel that wealthy owners should not be able to underwrite losses whereas Abramovich will agree to a system of recovering some of his losses.

Any money made from sponsorship will be allowed to be spent on wages with no restrictions, which will enable certain clubs with higher revenue in that area to spend more.

The Premier League need 14 of the clubs to agree for the process to go forward and it is highly likely that Chelsea will give them the necessary amount if they agree. Manchester City do not agree with FFP and they will be voting against it alongside Aston Villa, Fulham and West Brom.

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Article title: Financial Fair Play gets the seal of approval

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