The Premier League’s Profitability and Sustainability Rules look set to remain in place for the foreseeable future after another showdown between the clubs ended in deadlock.
Top flight chiefs met in central London on Tuesday for yet another crunch meeting but the 20 clubs could not agree on fresh financial controls. Executives have been pushing for new measures for well over a year and a half but once again there was no breakthrough and no sign of a vote any time soon.
The current PSR system has already tripped up several clubs and left others fearing the axe of sanctions. Yet when offered alternatives, clubs have simply refused to budge. Talks on Tuesday dragged on but the big picture is that nothing will change before next season and possibly well beyond.
Two proposals have been on the table. The first is called the squad cost ratio. It would cap wages at 85 per cent of revenue. Nine clubs already work under these limits because of European competition rules and are said to like the flexibility PSR still gives them at home. For the others it remains a sticking point.
The second proposal is the most explosive. It is known as anchoring and would tie spending limits to a multiple of the bottom club’s income. In theory it is meant to preserve competitive balance but it has caused uproar. Manchester United and Manchester City have both voted against it in the past and continue to resist. Rival clubs argue anchoring is vital if the Premier League wants to keep its reputation as the most competitive league in world football but the giants of the division will not tolerate being dragged down.
Sources at the meeting say discussions became dominated by the needs of individual clubs rather than the greater good. What is good for a relegation battler is not what is good for a Champions League regular. That divide is keeping the entire process stuck in the mud.
Another issue hanging over the talks is the looming arrival of an independent regulator. Clubs know the regulator will demand tougher rules on sustainability and may force them to hold a cash reserve to deal with crises. That possibility has left several owners wary of rushing into reforms that might soon be overridden anyway.
For now the message is clear. The Premier League’s financial rules remain unchanged. The executives have been trying for 18 months to modernise the system but the clubs are at war with one another and no one is backing down.
The PSR era continues and it could be here for a long time yet.
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