A Premier League spending cap in principle has been voted for by top-flight clubs.
Though not all have been in favour, with Manchester United said to be one of three teams to reject the proposal.
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Known as 'anchoring', the proposed new scheme will limit clubs from excessive transfer and agent fees, as well as wages.
According to The Times, the Red Devils, Manchester City and Aston Villa voted against a spending cap to be introduced.
Meanwhile, it has been claimed that Chelsea abstained from the voting process.
A statement from the PFA read: "We’ll wait to see details of proposals.
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"But we would oppose any measure that would place a ‘hard’ cap on player wages.
"There is an established process in place to ensure proposals like this, which would directly impact our members, have to be properly consulted on.”
It is believed that a meeting will take place in June to discuss the specific details of the spending cap.
The new proposal will be determined by how much the lowest earning club in the top flight has earned in television rights.
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Should the scheme be approved in the upcoming Annuel General Meeting, then it would replace the current Profit and Sustainability Regulations from the 2025/26 campaign.
Southampton, who finished bottom of the table last season, raked in £103.6, last term through television and commercial revenues.
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That figure would then be multiplied by agreed figure between the Premier League clubs.
If that figure was 4.5 as was previously suggested, clubs would be capped at spending £466.2m.
That would have seen Chelsea above the cap, as their total squad cost from last season was around £539m.
However, football finance expert Kieran Maguire believes that the new rules won't affect the summer transfer window.
Maguire told talkSPORT: "I think the old rules are more likely to impact the summer transfer market as far as the summer of '24 is confirmed.
"There will be a lot of toing and froing before June 30th, especially for those clubs who are on a sticky wicket when it comes to compliance with the rules.
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"But once that's over I think we'll be back to full steam ahead.
"The Premier League is incredibly successful and clubs want to be in it and want to progress up the Premier League because every extra position is worth another £3.5million."