Three of English football\u2019s leading agencies have formally warned the Premier League that they may pursue legal action over proposed spending rules that could reshape club finances. CAA Base, CAA Stellar and Wasserman have registered their opposition in a letter sent by law firm Clifford Chance, protesting proposals being discussed ahead of the shareholders\u2019 meeting on Friday.<\/p>\n
The proposed changes include replacing the current profit and sustainability rules (PSR) with a new mechanism called squad cost ratios (SCR). The agencies also criticised a separate measure referenced as TBA. Under SCR, clubs would be prevented from spending more than 85% of their yearly revenue, a cap the agencies say is restrictive and unprecedented.<\/p>\n
The three agencies, whose combined client lists include Cole Palmer and Kobbie Mainoo, say they were not consulted in the development of the new regulations. Their legal warning is the most recent public challenge to the proposals ahead of the decisive vote.<\/p>\n
Maheta Molango, head of the Professional Footballers\u2019 Association, has also signalled resistance from the players\u2019 side, promising the union would “take measures to challenge the new rules if they are brought in.” He added: “Clubs who view the changes as a clear restriction of trade will also take action. Competition specialists have raised eyebrows at the anchoring proposals, which have no precedent, and legal challenges are inevitable.”<\/p>\n
Several clubs are understood to be preparing to vote against the changes, with Manchester City and Manchester United among those thought to be opposed. For the reforms to proceed they require the support of two-thirds of Premier League clubs at Friday\u2019s vote in London. Failing that threshold, the proposals will not progress to implementation.<\/p>\n","protected":false},"excerpt":{"rendered":"
Major agencies threaten legal action over Premier League spending proposals as vote looms on Friday.<\/p>\n","protected":false},"author":1,"featured_media":4509,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[190,179,172],"tags":[983,319,1032],"class_list":["post-4510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chelsea","category-manchester-united","category-epl","tag-agents","tag-cole-palmer","tag-contract-disputes"],"_links":{"self":[{"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/posts\/4510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/comments?post=4510"}],"version-history":[{"count":0,"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/posts\/4510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/media\/4509"}],"wp:attachment":[{"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/media?parent=4510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/categories?post=4510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.weplayfpl.com\/news-articles\/wp-json\/wp\/v2\/tags?post=4510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}