From BBC
https://www.bbc.co.uk/sport/football/29361839
The Premier League has brought in its own form of financial regulation which is not as stringent as Uefa's FFP.
Clubs cannot make a loss in excess of £105m across the 2013-14, 2014-15 and 2015-16 seasons (as with FFP, investment in infrastructure and youth development is exempt).
Any club that posts losses in excess of that figure could face severe penalties, including a points deduction.
A loss between £15m and £105m has to be guaranteed by club owners.
The league has also introduced a short-term cost control measure in which clubs are restricted in the amount of increased PL central funds that can be used to improve player wages.
The increase in wages from the fund was limited to £4m in 2013-14, £8m in 2014-15 and £12m in 2015-16 (wages can be increased from clubs' own commercial revenue).
The wages increase criteria was ditched a few season ago
Evans is talking shite or providing fake news