Spending controls approved by clubs

February 7, 2013
By Associated Press
English Premier League clubs agreed Thursday to restrain spiraling player salaries and spending through financial controls or face point deductions.

The move, designed to ensure the expected $8 billion being generated by a new television rights deal isn't misspent, comes three days after UEFA warned that escalating player costs were jeopardizing the future of European clubs.

Teams with wage bills exceeding $82 million only will be able to increase them by $6 million ...

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