Premier League clubs have voted to limit the period over which a player’s transfer fee can be spread in their accounts to five years, the league announced on Tuesday. Previously, clubs could amortise the cost of a transfer fee over the full length of any contract.
“Premier League shareholders today agreed to amend the rule on amortisation of player registration costs to bring it in line with Uefa’s regulations,” the league said in a statement. Going forward, a five-year maximum will apply to all new or extended contracts.”
Most Premier League clubs have taken advantage of amortisation, but recently Chelsea have signed players on eight-year contracts or more, allowing them a much longer period in which they can write off the transfer fees.
This allowed clubs to get around Premier League Financial Fair Play regulations whereby clubs are permitted to lose a maximum of 105 million pounds ($131.76 million) over a three-year period.
Chelsea were one of 15 clubs which voted to amend the amortisation rule, which will not be backdated, so will not include any contracts already signed. The rule change brings the Premier League in line with Uefa who amended their regulations in June.
The clubs have also agreed to a rule amendment which allows the Premier League Board to stop a club from registering more players when a club owes a transfer debt to another Premier League or EFL club until the outstanding debt has been paid.
Source: Supersport
In other news – Cyan Boujee celebrates her boyfriend’s birthday
Cyan Boujee wishes her boyfriend a happy birthday. The DJ showered him with sweet words and also gave him special gifts. Cyan has been highly private about her man, but she doesn’t hide the fact that she is in a relationship.
Taking to her Instagram stories, she wrote her boyfriend a note and also shared the photo of the cake she bought for him. Read more
