Premier League frontrunners Arsenal are reportedly reconsidering their stance ahead of a vote to implement a contentious new salary cap, putting the proposed plans 'under serious threat' before Friday's meeting with top-flight representatives. Mikel Arteta's team previously voted in favour of introduction of 'anchoring', a measure that would restrict Premier League clubs to spending five times the amount received in prize money and broadcast revenue by the team finishing last in the division.
Based on the latest figures from the 2023-24 season, clubs could spend up to £550million, calculated from the £109.5million Sheffield United earned after finishing 20th that season. However, The Times reports that the exit of Tim Lewis, former executive vice-chairman at the Emirates Stadium, has softened Arsenal's position and cast doubt over the plans.
The report suggests eight clubs are expressing doubts about changes to the rules before Friday's shareholder meeting. It also indicates that some clubs fear financial restrictions could affect Premier League clubs' performance in Europe and risk losing world-class talent to competing leagues.
Any change to introduce anchoring would require a majority vote of 14 clubs voting in favour, with Arsenal among the 16 clubs that voted in favour of exploring anchoring last year. However, both Manchester United and Manchester City are against the introduction of new regulations, and a change in stance from the Gunners could pose a serious threat to the proposals.
The Premier League, when approached by The Express, stated: "It is the League's objective to maintain the Premier League's value, competitive balance and ensure clubs operate in a financially sustainable way.
"We are engaging with our clubs, and they will continue to evaluate the proposals. They will have the opportunity to vote on them later this month."
The plans to introduce anchoring have also faced criticism from several other sectors across the English game. The PFA have threatened legal action ahead of a crucial shareholders' meeting, as reported by the Daily Mail.
A spokesperson from the PFA cautioned: "We've been clear with the Premier League that it is something we will oppose, but the Premier League themselves know that, even before the PFA does this, there will be clubs within their own room who will legally challenge the measure.
"The only ones who end up winning are the lawyers. We want to talk about football, we don't want to talk about legal bills. There are ways to engage on measures around financial sustainability, but this cannot be imposed unilaterally; it needs to be negotiated, and there are mechanisms (to consult) that need to be respected."
In an official statement given to Mirror Sport, a Premier League spokesperson refuted the above claim, stating: "We disagree with the PFA's views regarding the proposed financial rules and the extensive consultation process we have been conducting with our clubs and other stakeholders.
"The PFA has had numerous opportunities since March 2024 to provide feedback on, and shape, the proposals and the principles that underpin them. Where the League has received feedback on the New Financial System from stakeholders, including the PFA, we have considered it carefully and, where appropriate, incorporated it into formulating the draft rules.
"It is the League's objective to maintain the Premier League's value, competitive balance, and ensure clubs operate in a financially sustainable way.'We are engaging with our clubs, and they will continue to evaluate the proposals. They will have the opportunity to vote on them later this month."
Three of football's largest agencies, CAA Stellar, CAA Base and Wasserman, have warned the Premier League that they too will initiate legal action if a salary cap is introduced.