Clubs will likely be limited to spending 85% of their revenue on transfers, wages and agents fees if the new rules are adopted at the Annual General Meeting in June.
PSR will still be in place next season with a transition period in 2024-25, as will points deductions, which will also remain part of the new rules once adopted.
Everton were deducted 10 points in November, reduced to six on appeal, before they received a second deduction to take their points loss to eight for breaching PSR. Nottingham Forest, meanwhile, were deducted four points.
According to Premier League guidelines, clubs are at risk of breaching PSR if they incur more than £105 million ($131.90 million) in losses over three seasons, which amounts to £35M annually.
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