Premier League clubs have agreed in principle to implement a spending cap after receiving majority support with a final vote expected in June, the BBC reported on Monday.
The clubs have tentatively agreed to put a limit on how much money they can spend, with the cap based on how much money the lowest-earning club in the league makes from television rights.
Reuters has contacted the Premier League for comment.
The Athletic said the measure was discussed at the English top flight's shareholders meeting in London on Monday, adding that the cap can come into effect as early as the 2025-26 season.
There were 16 clubs that voted in favour of the new guidelines, with Chelsea abstaining and Manchester City, Manchester United and Aston Villa dissenting, the Independent said.