Deloitte recommended Premier League clubs introduce an internal salary cap based on 70 percent of their revenue to ensure their long-term future.

"You've got 107 percent of revenue going out on wages. You can see the problem looming," Deloitte's Dan Jones said in a statement.

"A salary cap is a blunt instrument, but if you can only spend 70 percent of revenue on salary, and applied that in 2018-19, you take £300 million out of the wage bill and wipe out the losses."