Premier League owner calls for wage cap amid 'sovereign' backing for clubs – including Newcastle United

Bournemouth owner Bill Foley wants to see Premier League wages capped amid "sovereign" backing for clubs.

Foley – who led a consortium which took over the club last December – also owns the National Hockey League (NHL) club Vegas Golden Knights, who won the Stanley Cup last season.

And Foley has pointed to the "hard salary cap" which is in place in the NHL amid sovereign wealth fund backing for a number of Premier League clubs, including Newcastle United.

Newcastle are 80%-owned by Saudi Arabia's Public Investment Fund following a takeover in late 2021, though the club's wage bill is not among the highest in the division.

Manchester City, majority-owned by the Abu Dhabi United Group, again won the Premier League last season.

"In my view, the lower table teams are really undervalued,' Foley told talkSPORT. "In the NHL, we have a hard salary cap that you can't go over, and that has brought quality to the league.

"That's why a team like ours was able to win the Stanley Cup.

"I would like to see more control of our spending in the Premier League, because we can't compete spending with a sovereign (wealth fund), but we can improve and play exciting football.

"I'm just one guy, and I'm respectful of how the Premier League run things. I want to be part of the club, not the outlier."

Wage restraint

Newcastle, fourth-placed finishers last season, are working within tight Financial Fair Play rules ahead of next season's return to the Champions League.

And Eddie Howe – who took Bournemouth from the fourth tier of English football to the Premier League – admitted that the club cannot pay "huge wages" late last month.

“I always say this – I think the most important people at the football club are the players we already have," said United's head coach.

"I’m the type of manager that will try to get the best out of everybody here who is already under our employment. Then, we’re looking to add quality players.

"But it’s not just the transfer fees (that are an issue), it’s also the wages. We’re not huge players of wages in the Premier League, so the big clubs will all dwarf us in terms of that.

Meanwhile, Bournemouth have appointed Andoni Irola has their new head coach. Howe spent some time with Iraola before returning to management with United.