Southend United and their Third Division rivals have agreed to adopt the cost management system next season.

Also known as wage capping, the new scheme has been structured to prevent cash crippled clubs from over spending and falling further into debt.

Basement league clubs will only be allowed to allocate 60 per cent of their annual turnover to players' salaries and a further 15 per cent for off the pitch staff.

The new proposal was passed at the annual meeting of Football League chairman, which was held at First Division Gillingham recently.

Published Thursday, June 12, 2003

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