During desperate negotiations on Monday, Premier League teams were unable to reach a “New Deal” for EFL funding. The announcement is made despite the fact that the 20 elite teams were informed last month that if they couldn’t come to an agreement with the EFL, the new Football Regulator might force them to.
For clubs outside of the Premier League, such as QPR, Millwall, Watford, Charlton Athletic, and Leyton Orient in London, the EFL financial agreement is very important. More financial stability for all of the nation’s football leagues is the hope.
“My hope is that the Premier League and the EFL can come to some appropriate arrangement themselves – that would be preferable,” Prime Minister Rishi Sunak previously stated.
“But, ultimately, if that’s not possible, the regulator will be able to step in and do that to ensure we have a fair distribution of resources across the football pyramid, of course promoting the Premier League but supporting football in communities… up and down the country.”
Premier League teams have consented to the introduction of a new system, but they haven’t been able to figure out how they want it to happen. The new approach would replace the existing Profit and Sustainability Rules, which let teams to lose up to £105 million over a three-year period, and is probably based on UEFA’s model.
Future player and coach salaries, transfers, and agent fees will probably be restricted to a portion of the club’s earnings, starting at 90% and dropping to 70% starting in 2025–2026.
A second vote on regulations is scheduled for the Premier League AGM in June, following the failure to achieve an agreement. The top teams are disappointed if they don’t make headway on Monday; there is still a problem, according to sources, with some clubs maintaining that the Premier League’s “bigger” teams should give a higher share.
The failure to reach a consensus will be discussed in the EFL’s board meeting on Thursday. The UK government appointed a new independent authority in English football in February, but despite pressure, there is still no timeline for the new system’s implementation.
Under the new agreement, lower leagues would presumably receive an initial payment of £44 million and then another £44 million in a few months. In essence, the £88 million would be a debt that the EFL would have to pay back over a longer time frame than six years.
The Athletic reports that the £88 million cash infusion might be worth £3.52 million to Championship teams, £528,000 to League One teams, and £352,000 to League Two teams.
Gary Neville chastised the latest breakdown in Premier League discussions. “I am more interested in the vote they didn’t have, which was to support the rest of the Football League (and which they keep bumping down the road),” stated the Salford City owner and former Manchester United player, as reported by the Lancashire Post. It truly is a travesty. It concerns both the long-term viability of the league as a whole and the welfare of the game.
The Premier League is currently being careless in their dismissive behaviour, simply putting it off and hoping that a regulator would take care of it eventually. Instead of taking action, they are doing nothing. It is not responsible leadership. It only proves to me that they are not giving the entire game the proper attention that it deserves. Every time I watch them having a Premier League meeting and appear to take care of themselves but not the rest of football, it enrages me.
Leave a Reply