Premier League chairmen are to discuss the possibility of spending limits

The chairmen of Premier League clubs are to be presented with a range of possible financial controls to limit spending.

"The Premier League is so big and powerful and there is so much money around that the clubs try and chase it. Something has to be done so we will support these measures." United's chief executive David Gill has been one of the driving forces behind European clubs accepting UEFA's financial fair play rules for clubs in the Champions League and Europa League to only spend what they earn, and he wants the Premier League to follow suit. The Football League have also introduced a similar system into the Championship and Gill believes the top flight should bring in similar measures. Gill said last week: "A lot of clubs would be happy just to introduce the financial fair play regulations into the Premier League now, some wouldn't, but that's a debate that has to have happened. And it will happen. "If you look at it we've got financial regulations in the league below us, the Championship, and the competition above us, the Champions League, so we need to do it.

Opportunity

"The Premier League being the best league in the world, the most commercially effective league in the world, I think there's a real opportunity to introduce some sensible rules that effectively improve and enhance the long term or medium term financial stability." At least 12 of the 20 top-flight clubs ended the 2010/11 season in the red with Manchester City's losses of £197million dwarfing even Chelsea's £68million and Liverpool's £49million. Critics of financial fair rules argue that it will forever favour those clubs such as Manchester United and Arsenal who make a profit and rule out wealthy benefactors such as Roman Abramovich and Sheikh Mansour putting money into clubs.