Uefa and European sports ministers are considering limiting how much clubs can spend on players' wages and transfers.
The plan would not be a salary cap but rather tie a club's expenditure to their income.
Sports minister Richard Caborn attended a meeting in Brussels of ministers and EU officials.
He told the Evening Standard: "There is support for the idea of introducing a better relationship between income earned by clubs and the amounts spent."
The discussions are at their early stages but it would mean clubs would not be allowed to spend more than they earn on transfer fees and players' wages.
But they would be allowed to borrow for capital investments such as new stadia or training grounds.
If the new rules were introduced then Chelsea would be hard hit.
In the first two years of Roman Abramovich's ownership of the club they reported losses of £228m and spent £276m on transfers alone.
The meeting gave initial backing to some proposals which will now be formalised in the current review of European football being carried out by Jose Luis Arnaut, a former presidency minister in the Portuguese government.