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LONDON — The English Premier League has taken another step toward introducing a spending cap. Top-flight teams voted at a shareholders' meeting in London on Monday to progress to the final stage of a legal and economic analysis of the "anchoring" principle. That would limit the spending by all clubs to a multiple of the combined prize money and cash from TV rights earned by the last-placed team in the league. As a consequence, it would reduce the potential spending power of the clubs with the biggest revenues and richest owners and help to increase the competitiveness of the league. Clubs might get the opportunity to vote in June on whether to adopt the spending cap.
