Premier League to introduce spending controls

Premier League chief executive Richard Scudamore confirmed Thursday that the league will introduce spending controls aimed at leveling the playing field for all teams in England's top flight.

The majority of the chairmen from the 20 Premier League member clubs agreed to two significant controls. A limit on player wages will be implemented next season in addition to long-term measures that will be taken to reduce the allowable losses a club can make to a specific dollar amount.

The spending controls should prevent future wealthy and liquid Premier League owners from turning a club into an overnight success, much like Roman Abramovich and Sheikh Mansour bin Zayed Al Nahyan have done at Chelsea and Manchester City, respectively.

Scudamore revealed that clubs in breach of the spending limits could be subject to a points deduction.

"As all things in our rule book you will be subject to a disciplinary commission," Scudamore told reporters. "The clubs understand that if people break the [$165 million] we will look for the top-end ultimate sanction range - a points deduction.

"Normally we stay silent on sanctions as the commission has a free range but clearly if there is a material breach of that rule we will be asking the commission to consider top-end sanctions."