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Premier League clubs 'are TERRIFIED of breaching financial rules this summer - with top flight sides preparing to cut spending, amid fears of a points deduction'

Premier League clubs are reportedly set for a summer of low spending because they are 'terrified' of breaching financial rules.

The Premier League's FFP regulations have come into focus over recent months, with Everton deducted 10 points back in November for breaking them - although this punishment was reduced to six on appeal.

Last month, they were then charged again - alongside Nottingham Forest - for breaching top flight spending rules with both clubs waiting to find out their fate. Premier League clubs are allowed to lose £105m over a three-year rolling time frame, with the end of each accounting year coming on June 30.