Football League clubs have been warned not to rush the introduction of a salary cap for players after a meeting of chairman at Oxford United's Kassam Stadium on Thursday.

The temptation for some clubs may be to see the intended restriction on player wage levels as their only means of balancing books in the near future.

However, while industry analysts welcome the "common-sense" approach of spending less than income received, they have warned clubs to phase in such a scheme rather than bringing it in at full throttle next season.

And it would seem those Football League clubs with larger wage bills and players on long contracts will be in agreement as discussions continue over the details of the scheme.

In principle, however, the league chairmen came out in favour of ruling teams can only spend a set percentage - initially 60%, but eventually 50% - of their annual turnover on player wages.

Paul Rawnsley, a sports business consultant at industry experts Deloitte & Touche Sport, said: "Clubs can't turn off the tap overnight as they have commitments to certain costs, such as contracts.

"However, there is now a window of opportunity and a willingness in the game for clubs to put their house in order at last and only spend what they can afford on players' wages."