According to the UK Times, Premier League clubs voted in favor of a proposal to limit spending on transfers, wages, and agent fees on Monday.
The proposal will restrict top clubs from spending more than the amount the bottom team receives in TV money.
The vote was unanimous, with 14 votes in favor, meeting the required majority.
Out of the 20 teams, 16 supported the proposal at the Premier League shareholders’ meeting.
Manchester City, Manchester United, and Aston Villa opposed the proposal, while Chelsea chose not to vote.
The goal is to promote a more competitive Premier League by preventing clubs from overspending, rather than having only a few extremely wealthy clubs dominating the league.
