EPL bosses divided over new financial rules

London, Nov 16: Chairman of various Premier League clubs, who attended a shareholders’ meeting in London, are split over how to introduce cost controls.

The meeting at the Premier League’s headquarters concluded with no concrete decision taken about the financial rules, Sky News reported.

League executives will now try to draw some detailed proposals on a range of options ahead of a meeting in February.

Any decision taken is likely to come into effect from the start of next season.

There have now been five meetings of top-flight chairmen where cost controls have been discussed without any concrete decision taken.

“There have been no decisions made. The debate carries on,” West Ham co-owner David Gold said.

“I am hoping that we can come to some conclusions for the best interest of the football clubs and the league as whole, hopefully before the start of next season,” he said.

Premier League clubs made cumulative losses of œ361m in 2010-11, the most recent season for which complete financial results are available.

Measures to ensure clubs move towards break-even, known as ‘Financial Fair Play’, have been already agreed for Europe’s top teams.

The Premier league bosses are eager to ensure that the riches which will arrive next season from the new 3-billion-pound TV deal will not immediately be swallowed up by player wages. (ANI)