sport news Premier League clubs 'agree new financial model to control costs' - after ... trends now Premier League clubs have agreed to undertake a new financial model in future Everton were deducted six points this season, while Forest were hit with four 'He doesn't have any excuse to dive!' Will Bukayo Saka learn from his Bayern tumble? Listen to the It's All Kicking Off podcast By James Cohen Published: 16:08 BST, 11 April 2024 | Updated: 16:19 BST, 11 April 2024 Viewcomments Premier League clubs have agreed to undertake a new financial model to control costs, according to reports. The hefty points-deduction punishments for Everton and Nottingham Forest left many officials to deem the league's Profit and Sustainability Rules (PSR) not fit for purpose. The sanctions, coupled with a quiet January transfer window as clubs did not dare overspend and risk sanction, have lead to the decision being made. At the Premier League shareholders meeting on Thursday, 20 clubs hold two votes on the new rules, with one reached a unanimous verdict, according to Sky Sports. While both a luxury tax and salary cap have been mooted as potential alternative options, it appears the league are considering a squad-cost ratio system. Premier League clubs have voted to undertake a new financial model to control costs after both Nottingham Forest and Everton were hit with a points deduction this season UEFA’s new rule - which limits spending on player and coach wages, transfers and agent fees to 70 per cent of club revenue is also viewed favourably. However, it's reported that with the Premier League's proposition, this figure would rise up to 85 per cent of their revenue. Mail Sport revealed last week that Premier League clubs are considering abolishing points deductions and introducing a 'luxury tax'. There are grave fears are that, under its current guise, PSR will see the Premier League fall from its lucrative position as the world's best league because it will no longer be able to afford the best players on the best salaries. Some feel that the eventual six-point penalty dished out to Everton and the four handed to Forest were draconian and not reflective of why PSR was brought in. Despite the vote on Thursday, it's understood that Profit and Sustainability Rules are expected to remain in place for the 2024-25 campaign. More to follow... Premier League Read more: Share or comment on this article: Premier League clubs 'agree new financial model to control costs' - after Everton and Nottingham Forest had points deducted... with new squad cost ratio rules to replace Profitability and Sustainability Rules All rights reserved for this news site (dailymail) and under his responsibility