Premier League votes to rein in spending

English Premier League clubs responded to concerns about spiralling wages by agreeing yesterday to impose spending controls.

Uefa warned on Monday that the failure to control salaries, which have risen 40 per cent at leading European clubs in five years, was endangering the future of football on the continent.

And the Premier League is keen to ensure the expected US$8 billion being generated by a new three-year television rights deal isn't frittered away by clubs.

West Ham co-chairman David Gold said the majority of clubs agreed to adopt a restraint on wage increases.

"The majority of the clubs supported change and now it will be up to the board to put into play ... it was overwhelming the support," Gold said. "Not all 20 clubs [voted in favour], some are a little concerned, but broadly, the vast majority of the clubs voted in favour."

Exact details of the rules, which will be voted on by the main Premier League board in April, weren't immediately available.

Gold confirmed the main regulation was a "restraint on overspending."

"If [clubs] increase their revenues then they can increase their spend," he said. "We have restraint and that's the important thing."

The rules are designed to prevent a repeat of the financial meltdown at Portsmouth, which became the first Premier League club to enter bankruptcy protection in 2010.

"What's driving the whole thing is we've got to avoid another Portsmouth," Gold said.

Premier League clubs which enter European competitions have to abide by the financial fair play rules introduced by Uefa to eventually make teams break even on their football-related business.

The 20-team Premier League is the richest in the world for revenues. But clubs spend about 70 per cent of their income on lavish player wages, leaving little over for profit.

Top leagues in Germany and Spain have already adopted financial controls for their clubs.