Fifteen of the 20 clubs in the Premier League will have to significantly cut down their wage bill to qualify for European football, if and when the 'financial fair play' rules are introduced by UEFA.
The executive committee is expected to give the green light to put into practice Michel Platini's proposed financial regulations, which are designed to ensure the sustainability of European clubs.
As many as 14 Premier League clubs made losses during the 2008-09 financial year, with Blackburn Rovers registering a profit of £3.6m - only to be subsidized by a £5m loan taken by the club's owners.
According to the new rules, owners will be allowed to inject further investment into the club, but through buying more shares as opposed to taking out loans repayable at a later date.
They would also not be allowed to overspend on wages and transfers, with the consequences being that the club would not be allowed to participate in European competitions if they were found to be in violation of the rules.
The Premier League representatives, according to The Guardian, had reportedly suggested that clubs be allowed to be subsidized by their owners, but were met with a deaf ear from UEFA - as the European governing body are trying to build a more sustainable framework for football clubs.
A spokesman for the Premier League conceded that clubs would now have to curb their spending, or risk the consequences, saying: "The vast majority of what is being proposed is common sense, and has already [been], or is about to be, incorporated into Premier League rules.
"If the regulations are introduced as reported, we envisage a difficult period of adjustment for our member clubs who play, or aspire to play, in European competitions."
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