"This must be resisted..." - Man Utd legend Gary Neville slams Liverpool owner's spending suggestion

Manchester United legend Gary Neville has reacted to suggestions from Liverpool owner John W Henry that the Premier League should introduce a spending limit.

Henry, the principal owner of Fenway Sports Group - who hold a majority stake in Liverpool - gave a rare interview earlier this week. In the interview, he outlined the Reds' summer spending plans.

Speaking to the Liverpool Echo, he explained: "We continue building at Liverpool Football Club in a responsible manner. We've seen many football clubs - including LFC previously - go down unsustainable paths.

"We have and will continue to focus our attention on investing wisely in the transfer market and we remain incredibly proud of our squad."

Henry added that FSG would continue to invest in further developing Anfield and improving the club's training facilities.

He also reiterated FSG's desire to see spending limits introduced for Premier League clubs, in order to avoid 'one or two clubs' pulling away from the rest.

"You are right that there are ever-increasing financial challenges in the Premier League.

"The league itself is extraordinarily successful and is the greatest football competition in the world, but we've thought for some time there should be limits on spending so that the league doesn't go the way of European leagues where one or two clubs annually have little competition.

"Excitement depends on competition and is the most important component of the Premier League."

Man Utd legend Neville on PL spending limit

Taking to Twitter to respond to Henry's comments, Neville made clear that he is against the idea of a spending limit being introduced in the top flight of English football.

He replied to a tweet from The Times journalist Martyn Ziegler, who wrote that it would be 'interesting to see if PL follows UEFA's scheme to limit spending on wages/transfers to 70 per cent'.

In response, Neville claimed: "So the established elite can lock in their positions! This must be resisted.."

The Telegraph reported last August that a limit similar to that of UEFA's scheme, where clubs can only spend 70 per cent of their revenue on transfer and wages, had been discussed by the Premier League.

It was claimed that a higher percentage would likely be agreed if talks were successful, in order to ensure clubs with smaller stadiums were not impacted.

The UK government confirmed last month that a new independent regulator will be established to 'oversee the financial sustainability of the game' in men's elite football, but no mention was made of any limits on spending.