Newcastle United lead Premier League rebel group ahead of crunch vote - sources
Newcastle United are spearheading a group of clubs pushing to introduce new anchoring rules to the Premier League, sources have told Football Insider.
Top flight clubs are set to meet on Monday (29 April) to discuss a proposal to introduce a spending cap as part of the new financial regulations.
Current Profit and Sustainability Rules are set to be scrapped in the 2025-26 season with new regulations permitting clubs to spend up to 85 per cent of their overall revenue on player wages and transfer fees.
However, concerns have been raised that such rules would allow the established elite to dominate and stop other clubs from competing at the top of the table.
Therefore, new “anchoring” rules have been proposed which would cap spending to a multiple of the lowest earnings in the division.
Newcastle United eager to vote in new £550m spending cap
As revealed by Football Insider, the rule change would force Manchester City to cut around £200million of their spending.
If voted in, the anchoring regulations would cap spending to around five times the lowest earnings from broadcast and commercial payouts - around £550million per season.
Sources say that Newcastle are at the forefront of clubs pushing for the rules to be introduced.
The proposal has received heavy criticism from the 'Big Six' who argue that the rules would harm English football's presence in European football.
A vote will take place for anchoring regulations on Monday (29 April) where a majority of 14 votes will be needed for the proposal to pass.
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