Found February 14, 2013 on Top-soCCer:
PLAYERS: Howard Webb
After calls of financial foul play and cries of unfair advantages in the English Premier League, action was finally taken this week to prevent overspending and spiralling wage bills. Each of the 20 clubs were asked to vote on the new financial regulations, and when 13 of them agreed, the two-thirds majority was reached to allow the changes to take place.The details of the new regulations state that each club is only permitted to make a combined loss of £105m within a three year period, starting from next season. Investment in academies and improvement to stadia are exempt from this figure, so as not to discourage clubs from developing facilities and young talent. Wage expenditure is also being monitored, with clubs spending over £52m annually only allowed to increase their wage bill by an accumulative extra £4m per season. Premier League boss Richard Scudamore is adamant that these regulations will be strictly adhered to, under the risk of punishment. He said ‘If people break the £1...
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