CAA Base, CAA Stellar and Wasserman, three of the biggest agencies in English football, have threatened legal action against the Premier League over proposed new spending rules.
The controversial new financial regulations include “top to bottom anchoring” (TBA) that would implement a salary cap on all 20 clubs in the English top flight, limiting how much money they could spend on players, including their wages, agents’ fees and transfer fees.
There will also be discussions over replacing profit and sustainability rules (PSR) with “squad cost ratios” (SCR). The vote to decide whether the proposals are greenlit is set to unfold at the next Premier League shareholders’ meeting on Friday.
In the buildup to the all-important vote, CAA Base, CAA Stellar and Wasserman, whose combined client lists feature players like Chelsea talisman Cole Palmer and Manchester United midfielder Kobbie Mainoo, have issued their formal opposition through a letter from leading law firm Clifford Chance, per The Athletic.
The three agencies condemned both TBA and SCR, the latter of which would prevent clubs from spending more than 85% of their yearly revenue. They also accused the Premier League of coming up with these new regulations without consulting them first.
Opposition to Proposed Spending Changes Is Growing
The threat of legal action from the three top agencies is only the latest outward objection to the proposed changes.
Maheta Molango, head of the Professional Footballers’ Association (PFA), promised the players’ union would “take measures to challenge the new rules if they are brought in.”
The chief executive added: “Clubs who view the changes as a clear restriction of trade will also take action. Competition specialists have raised eyebrows at the anchoring proposals, which have no precedent, and legal challenges are inevitable.”
Manchester City and Manchester United are among the number of clubs thought to be voting against the spending changes. The proposal needs a two-thirds majority of teams to back it come Friday’s vote in London or else it will not make its way to the Premier League.
READ THE LATEST PREMIER LEAGUE NEWS, TRANSFER RUMOURS AND GOSSIP
This article was originally published on www.si.com as Cole Palmer, Kobbie Mainoo’s Agencies Threaten to Sue Premier League.
