According to the Daily Mail, the Premier League is considering introducing a new wage bill cap in order to maintain competitive balance among clubs, including Chelsea.

Speaking at the Leaders Week conference in Twickenham, Crystal Palace Chairman Steve Parish revealed positive talks have been held about its possible introduction and expects the change to help clubs stay aloft.

“As far as competitive balance (is concerned), people need to be bold,” Parish said. “I think there is change afoot.

“UEFA’s squad-cost caps are one idea. Maybe something that is a bit more rigid than that, with a hard cap at the top, that doesn’t take turnover into account, where there are vagaries of how that turnover comes about.

“There are really positive conversations going on about it. We also have to be very careful because there are also unintended consequences.

“Hopefully we will get somewhere that will be beneficial, not just to the clubs in the Premier League but to the whole pyramid and their ability to compete. We are voting for our competitors to be able to do better and challenge us.”