The Premier League is looking to tighten controls on club owners in response to the Portsmouth disaster and general concerns surrounding spiralling debt levels.
The 20 Premier League clubs met in London on Thursday to discuss changes to its current vetting process for new owners.
The Premier League hopes to introduce a new “means and abilities” test that will force prospective owners to provide proof of funds and demonstrate their ability to invest in a club.
Under the new rule, the Premier League will also demand a face-to-face meeting with any prospective owner, in an attempt to avoid a repeat of the situation whereby Faraj was never seen in the UK and was never questioned about the state of Portsmouth’s books.
The move comes after Portsmouth were docked nine points for becoming the first Premier League club to go into administration, a fate reached after the club changed ownership three times this season. Richard Scudamore, the Premier League’s chief executive, last month admitted that Portsmouth’s problems had damaged the league’s image.
The Premier League clubs are reported to have broadly welcomed the proposals, on which they will formally vote at the AGM in June.
