By Adam Williams, Finance & Governance Correspondent

4th May, 2023 | 7:00am

Sources: Man City FFP update as Premier League to rip up the rulebook

The Premier League is still yet to agree on the specifics of its new financial fair play system amid the ongoing case against Man City, Football Insider has learned.

The top flight’s current FFP rules limiting clubs to a loss of £105m over a rolling three-year period were introduced in 2013 and, save for a few tweaks, have since remained largely unchanged.

Man City and Everton became the first two clubs to be charged under the rules earlier this year – and both their cases are due to be heard by an independent commission with the power to issue fines and deduct points.

The introduction of the rules in 2013 was a response to Uefa’s implementation of its own FFP model two years earlier, which limited clubs to losing around £30m over the same time period and have also remained mostly unaltered.

But Uefa has since begun the process of phasing in a new system that will eventually prevent clubs from spending more than 70 per cent of their turnover over three years on wages, transfers and agent fees.

It has long been understood that the Premier League will mirror Uefa by introducing a revenue-based system, but there has been little in the way of updates in recent months.

A consultant who has worked on behalf of the Premier League has now told this site that it looks overwhelmingly unlikely that the new rules will be phased in from the summer, as many had anticipated they might.

The source explained that the exact threshold, which is set to be more lenient than Uefa’s 70 per cent, has been decided but that other intricacies of the new rules have not.

A new acceptable loss limit and assessment window are likely to be introduced alongside the revenue-based cap, as are new data submission criteria as well as new solvency and sustainability safeguards.

Significantly, the Premier League and EFL are yet to agree a new financial redistribution deal, which will likely end with more money filtering down from the top flight to the rest of the pyramid.

That, as well as the imminent introduction of an independent regulator for English football with the power to implement its own financial regulations, could be among the factors that have delayed a new set of FFP rules.

In other news, Man City explore conditions of deal to sign Arsenal star.