Premier League clubs to discuss transfer overhaul 05/05/2010 |
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Premier League clubs could introduce radical changes to the transfer system this summer to prevent a repeat of the financial meltdown at Portsmouth.
The Daily Mail reports that clubs will discuss new rules that will stop them paying for multi-million-pound players on the “never-never”.
Proposals that clubs must pay for players within 12 months are on the table for the next meeting of Premier League chairmen, although a compromise to extend the period to 24 months is likely.
Wigan Athletic chairman Dave Whelan pledged his support for the shake-up, which is likely to see a sharp fall in overall transfer fees as clubs will only be able to pay what they can afford.
He said: “This will stop people going on the HP. It's not right that clubs say they will sign players over three or four years.
“Sometimes they sell players on and still owe money to the club they bought him from.”
Portsmouth became the first Premier League club to enter administration earlier this year. Its debts now stand at £119m.
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