Gartside calls for Premier League wage cap 12/11/2010 |
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Bolton chairman Phil Gartside has called for limits on Premier League players' wages.
Bolton’s losses have more than doubled to £35.4m, with its debt rising from £64m to £93m, and Gartside believes wage restraints are needed.
He said: "Owners should be allowed to invest in equity. So if you, as an owner, want to buy a striker for £10m that shouldn't be a problem. But what you then can't do is pay him extortionate wages that take you out of the break-even situation.
"We are carrying too many on the wage bill. To be fair, nine players are out of contract in the summer, within them heavy earners, and we'll decide if we want to offer them new contracts."
Gartside claims Premier League chief executive Richard Scudamore wants even tougher rules on club finances.
"Richard's keener than anybody," Gartside added. "I think he's concerned as much as anybody about the financial state. We keep upping the income and we keep losing more money. It's ridiculous."
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