LONDON, Dec 13, 2023 (BSS/AFP) - Premier League clubs will have a maximum of five years across a player's contract to spread the cost of a transfer fee under newly-tightened rules announced Tuesday.

The move brings England's top flight into line with European regulations after UEFA said in June it had closed a loophole allowing clubs to spread a fee over a longer period.

Chelsea have signed several players on lengthy deals in recent times, including awarding eight-and-a-half-year contracts to Enzo Fernandez and Mykhailo Mudryk in January.

Provided transfer fees are spread evenly over a contract, the longer the deal the smaller the annual payment on the club's accounts.

So a o100 million ($125 million)fee would amount to o20 million a year with a five-year contract, but at only o12.5m a year if a deal was for eight years.

A league statement read: "Premier League shareholders today agreed to amend the rule on amortisation of player registration costs to bring in line with UEFA's regulations.

"Going forward, a five-year maximum will apply to all new or extended player contracts."

Clubs also approved a rule amendment allowing the league's board to block a club from registering new players where they owe a transfer debt to another Premier League or English Football League club until the debt is paid.