The complex measures agreed on Thursday are designed to help ensure that a £5 billion television windfall brings a new era of financial stability rather than being frittered away on lavish wages for players.
The curbs are less stringent than UEFA's Financial Fair Play (FFP) rules, which will force top clubs from all leagues across the continent to move towards breaking even or face exclusion from European competition.
However, clubs will be limited to maximum aggregate losses of £105 million over the three years from 2013 to 2016, coinciding with the new TV contracts.
"A new owner or even an existing owner with a change of attitude or fortunes... can invest proportionately a decent amount of money to improve their club," Premier League Chief Executive Richard Scudamore told reporters.
"But what they aren't going to be doing is throwing hundreds and hundreds of millions at it in a very short period of time."
Any club with a wage bill of more than £52m - all of the top teams - will only be able to add £4m from Premier League funds to their wage bill.
As an example of the sums clubs have been spending, Manchester City had staff costs of more than £200m in 2011/12, when they won the title for the first time in 44 years.
"Clubs I think understand if people break the £105m we will be looking at the top end of our sanction range," he said, referring to points deductions.
"There is an absolute prohibition on losing more than £105m over three years," he added.
