European football governing body UEFA have approved new spending rules that will replace the current Financial Fair Play (FFP) regulations.
Currently, clubs are allowed to spend up to £4.1million more than they earn during every three-year assessment period, but are allowed to exceed that figure by £24.9m if it is entirely covered by their owner. Under the new Financial Sustainability Regulations, clubs will be limited to spending 70 per cent of their revenue in a calendar year on wages, transfers and agents' fees.
Last week, figures revealed that Manchester City spent £35m on agent fees between February 2, 2021, and January 31, 2022, more during that time than any other Premier League club. Manchester United, meanwhile, spent just over £29m over the same period, the second-most in the league.
