Premier League teams will only be able to spread the cost of players' transfer fees over a maximum period of five years, closing a loophole that has been exploited most notably by Chelsea over the last couple of years. The clubs from England's top league voted for an amendment to the rule on amortization of player contracts at a shareholders' meeting on Tuesday, bringing the league in line with regulations now followed by the European governing body, The Union of European Football Associations. Chelsea Captain Reece James Suffers Another Injury Setback During Premier League 2023–24 Match Against Everton.

Chelsea, in particular, has given players such as Moises Caicedo, Mykhailo Mudryk and Enzo Fernandez contracts of up to eight-and-a-half years so the club could spread the huge costs of their transfers over the full length of the deal. It was regarded as an innovative way of complying with financial rules.

UEFA moved in June to limit the amortization period to five years, regardless of the length of the contract, and the Premier League has followed suit. Manchester United 0–1 Bayern Munich, UEFA Champions League 2023–24: Red Devils Out of UCL As German Giants Advance

The amendment will only apply to future transfers, and will not be backdated.

The league said it also has approved a rule amendment to enable its board to stop a club from registering more players until an outstanding payment has been made to another team in England's top four divisions.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)