Premier League clubs are set to vote on three new financial proposals that could dramatically change the landscape of the division, with controversial 'anchoring' wage limits splitting clubs
Luke Thrower and Neil Docking
10:46, 21 Nov 2025Updated 10:47, 21 Nov 2025
Premier League clubs have a decision to make
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Premier League clubs have a decision to make
The Premier League is considering significant alterations to the financial structure of the division during the latest shareholder meeting, with representatives from all 20 clubs set to cast their votes on three crucial proposals this Friday.
It's been a decade since the league implemented financial measures, with the most recent model, profit and sustainability (PSR), attracting a fair share of criticism. Under the current system, Premier League clubs are permitted to incur losses of up to £105million over a three-year span, although some clubs have discovered loopholes in this system. Others have faced penalties, such as Nottingham Forest's points deduction in 2024 or Everton's points deduction in 2023.
Consequently, three new proposals have been put forward that could drastically alter the Premier League landscape, depending on each club's vote. The proposed changes are known as top-to-bottom anchoring (or simply anchoring), squad cost rules (SCR), and sustainability and system resilience (SSR).
SCR is a system already utilised in UEFA competitions, where a percentage of revenue can be allocated to player expenses, while SSR is a rule designed to ensure that short-term and long-term financial obligations can be fulfilled. Anchoring, however, is the final and most contentious proposal of the lot.
Anchoring sets a limit on how much a football club can spend on wages and amortisation from transfer fees, based on the financial status of the poorest club in the division. The spending cap is then five times the amount distributed to the poorest club, effectively setting a uniform limit for all 20 clubs in the division, reports the Mirror.
Manchester United co-owner Sir Jim Ratcliffe
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Manchester United co-owner Sir Jim Ratcliffe(Image: PA)
This essentially imposes a wage cap on the division, allowing it to grow only with the revenue generated by the Premier League as a whole. This proposal has been met with both support and criticism, with potential legal disputes looming if it is implemented.
For these measures to be approved, 14 out of the 20 clubs would need to vote in favour, leading to some significant decisions about how it affects each member and their position. Consequently, there could be some disagreement over whether anchoring will be approved.
Manchester United and Manchester City are believed to oppose the proposal, while The Athletic reports that Arsenal are also expected to vote against anchoring but may vote for SCR if the previous proposal is rejected. The report further suggests that reigning champions Liverpool, along with Aston Villa, Everton, Sunderland and Burnley, are likely to support all three proposals.
LIVERPOOL, ENGLAND - MAY 25: (SUN OUT, SUN ON SUNDAY OUT) John Henry, Principle Owner of Liverpool and his wife Linda Pizzuti Henry pose for a photograph with the Premier League trophy, as Liverpool are crowned the Champions of the Premier League for the 2024/25 Season, following Premier League match between Liverpool FC and Crystal Palace FC at Anfield on May 25, 2025 in Liverpool, England. (Photo by Liverpool FC/Liverpool FC via Getty Images)
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Liverpool owner John Henry and his wife Linda Pizzuti(Image: Liverpool FC/Liverpool FC via Getty Images)
The primary objection from the division's larger clubs regarding anchoring centres on it being an extra restriction limiting their expenditure, alongside existing squad cost regulations they must follow in UEFA tournaments. Man Utd co-owner Sir Jim Ratcliffe expressed his position clearly when discussing the proposals with Bloomberg in 2024.
He stated: "(Anchoring) would inhibit the top clubs in the Premier League, and the last thing you want is for the top clubs in the Premier League not to be able to compete with Real Madrid, Barcelona, Bayern Munich, PSG - that's absurd. And if it does, it then ceases to be the finest league in the world."
The Times revealed that up to eight Premier League clubs harbour concerns about altering the financial regulations at Friday's shareholder meeting.
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UAE Vice President and Deputy Prime Minister Sheikh Mansour bin Zayed al-Nahyan (C), the majority owner of Manchester City, with manager Pep Guardiola (2nd-R) and other members of the management along with Khaldoon Khalifa al-Mubarak (2nd-L), club chairman(Image: UAE PRESIDENTIAL COURT/AFP via G)
With eight teams already anticipated to vote in a particular manner on anchoring, this leaves the remaining 12 undecided going into the gathering.
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Conversely, SCR might affect clubs such as Brentford, Bournemouth, and Crystal Palace given their existing approach of using the transfer market to create income, which could suggest their stance on the proposal, although their exact voting intentions on all three matters, including the contentious anchoring suggestion, remain uncertain. This is just the latest hurdle for the Premier League in managing the enormous wealth it has amassed from becoming one of the most viewed leagues globally.
Now, the ball is in the court of the clubs to decide their stance on the latest proposals.
Friday's vote could shed light on the future of English football and the trajectory of the top flight, but it might also stir up more uncertainty about what lies ahead.