Tottenham chairman Daniel Levy has warned Premier League clubs not to allow the new TV cash bonanza to go to waste.

The Daily Mail says Levy rarely talks at Premier League meetings. But he was vocal at the last summit, warning that TV rights money can't keep rising and urging clubs to ensure the £5billion haul from the current tender doesn't just end up in players' pockets, with wages now accounting for an average 70 per cent of turnover.

The clubs want guidance about possible financial fair play restrictions before the next transfer window.