Coates backs new Premier League spending rules
STOKE City chairman Peter Coates says he fully supports new rules on spending controls for Premier League clubs, including restrictions on salary increases.
Premier League clubs voted last week for new rules under which no team will be allowed to make a total loss of more than £105m over the next three seasons and must limit their player wage bills from next season.
Speaking on Radio Five Live, Coates said: "The object is to make us sustainable. We have the richest league in the world by some distance yet collectively we lose huge amounts of money, which isn't good.
"It is a criticism which is made of us and I think it is a fair criticism.
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"We are trying to put our house in order essentially. We can still compete at the very highest level so I personally don't see any downside."
The new rules follow Premier League figures which show its clubs made cumulative losses of £361m for the 2010-11 season.
The rules mean clubs whose total wage bill is more than £52m will only be allowed to increase their salaries by an accumulative £4m per season for each of the next three seasons.
Stoke City's wage bill in 2010-11 was £47m.