Football League clubs have given their backing to the development of proposals to introduce a squad-based salary cap.
The initial aim is to limit the proportion of income clubs are able to spend on players' wages to 60 per cent, with the intention to reduce that to 50 per cent in future seasons.
At today's meeting clubs overwhelmingly voted to back the work of the 'Best Practice Working Party' - a sub-committee of club chairmen and chief executives, appointed by the Football League in May 2002 - to investigate issues relating to the better financial management of League clubs.
Having received the clubs' backing, the working party and the Football League will now engage in further consultation with clubs in order to deliver an "effective and robust system" that can be formally agreed by the League's member clubs at a point in the near future.