Ex-Everton CEO: Liverpool value set to ‘go through the roof’
Former Everton chief Keith Wyness has claimed a “salary cap” could catapult the values of clubs like Liverpool and Arsenal “through the roof” and get better investment into the Premier League.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – suggested increasing American ownership in England could see a cap on wages become reality.
According to Capology, Premier League clubs are paying in excess of £1.8billion per year in wages to their players – down more than £200million on the 2022-23 campaign.
The same source claims Man City star midfielder Kevin De Bruyne brings home the highest base wage – £400,000-a-week.
Many North American sports leagues have a salary cap in place, including the NFL, NBA, NHL and MLB.
Previous reports have claimed the Premier League are considering introducing a hard cap which would restrict clubs to spending 70% of their turnover on wages and transfer fees.
Asked about how this would affect clubs like Liverpool and Arsenal, which are run on a self-sustainable basis, Wyness told Football Insider‘s inside track podcast: “The NFL franchises went through the roof in terms of valuations when there was a salary cap introduced.
“We’ve always talked about American owners in the Premier League having enough votes, potentially, to vote something like that through.
“Wages are the cost which runs away.
“It isn’t so much the transfer spending, it’s the wages and the salaries.
“There’s got to be a formula which limits the transfer fee when there’s a salary cap in place.
“That’s what will increase the valuations of clubs and get better investment into the Premier League.”