
Premier League chief executive Richard Masters has played down the suggestion that clubs including Chelsea have exploited "loopholes" in the current profit and sustainability rules (PSR), and described the fierce battle to gain an advantage in the top-flight as "a great thing".
Ahead of the June 30 accounting deadline, Chelsea, Newcastle, Everton and Aston Villa completed a series of seemingly mutually beneficial deals, leading to suggestions that they had found a loophole in the PSR regulations.