Premier League clubs have taken a step towards implementing a spending cap, voting on Monday for the league to complete the economic and legal analysis needed for such a model.

The model will be presented to clubs before a final vote at the league's Annual General Meeting in June at the earliest. It would replace the existing profitability and sustainability rules (PSR) from 2025-26.

The cap would limit how much clubs can spend in a bid to prevent the super-rich teams from dominating the league amid concerns over a growing gulf between the haves and have-nots.

The cap, discussed at a Premier League shareholders' meeting on Monday, would be based on how much money the lowest-earning club in the English top flight makes from television rights and could come into effect as early as the 2025-26.