Premier League clubs have voted in favour of adopting an anchoring economic model, which will be linked to the earnings of the bottom club (tv and prize money).
The proposed system would operate like a spending cap.
The next stage is final analysis and drafting of rules, which will potentially be put to clubs at an AGM in June.
The model will be presented to clubs and - should clubs vote in favour then - it will replace the Profit and Sustainability Rules currently in place, from the 2025-26 season onwards.
Any new element of the financial system would come in shadow next season, to fully replace PSR in 2025-26.