EPL clubs will suffer punishment if they overspend

In English football news, 

The Premier League, says its clubs will be punished with a points deduction system, if they breach the new rules regarding spending. 

The 20 EPL clubs will not be allowed to make a loss above US$160 million dollars over the next 3 seasons. 

And from August this year, they must limit their player salary bills. 

The new rules are designed to improve the financial sustainability of clubs, while investment in areas such as stadia and academies will be exempt. 

The aim is a 'break even' model similar to the Financial Fair Play regulations introduced by UEFA for clubs competing in European competitions. 

Meanwhile, 

Lionel Messi says, he hopes to finish his playing career in Argentina. 

The 25 year old made that comment after extending his Barcelona contract to June 2018. 

The 4-time World Player of the Year who has just signed a 2-year contract extension, has enjoyed a record-breaking 2012 for club and country, by scoring 91 goals. 

And Messi signed the new deal last night as it follows Carles Puyol and Xavi, who both signed their 3 year extensions last month.

Still on football news, 

Chelsea are reportedly ready to offer a contract extension to Frank Lampard. 

The 34 year old's current deal with the Blues expires in 3 months. 

And after 12 years with the London club, Lampard was expected to be leaving as a free agent in June. 

But the England midfielder who scored the matchwinner against Brazil yesterday, has also found the net for Chelsea 8 times in his last 13 outings. 

And latest reports suggest that the Blues might have had a change in heart. 

Meanwhile, 

Paris Saint-Germain coach Carlo Ancelotti has hinted that David Beckham could make his club debut at Sochaux next weekend. 

The former Real Madrid star will be working with the squad, after next week's first leg of their Champions League last-16 clash against Valencia.. 

Ancelotti left open the possibility that the former Manchester United midfielder could then appear for PSG next Sunday.