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FACTBOX-English Premier League clubs agree financial controls

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(Globalpost/GlobalPost)

Feb 7 (Reuters) - English Premier League soccer clubs agreed measures on Thursday to try to put their finances on a sounder footing, backed by the threat of point deductions.

Following are details of the plans:

Long-Term Sustainability Regulation

* From season 2013/14 Premier League clubs cannot make a loss in excess of 105 million pounds ($165 million) aggregated across seasons 2013/14, 2014/15 and 2015/16.

* Any club that makes a loss up to that limit will be subject to a tighter regulatory regime that includes:

Secure Owner Funding for three years ahead

Increased Future Financial Information over the next three seasons

Short-Term Cost Control Measure

Premier League clubs are restricted in the amount of increased Premier League Central Funds that can be used to increase current player wage costs to the tune of:

* 2013/14: 4 million

* 2014/15: 8 million

* 2015/16: 12 million.

The Short-Term cost control measure applies only to clubs with a player wage bill in excess of 52 million pounds in 2013-14, 56 million in 2014/15 and 60 million in 2015/16.

Source: Premier League ($1 = 0.6368 British pounds) (Writing by Keith Weir, editing by Pritha Sarkar)

http://www.globalpost.com/dispatch/news/thomson-reuters/130207/factbox-english-premier-league-clubs-agree-financial-controls