A new financial deal between the EFL and the Premier League, as set out by Richard Masters, is set to go to a ballot on November 21
Since their relegation from the top tier at the end of the 2020–21 season, Albion has not participated in the Premier League. The Baggies are finding it difficult to compete with competitors for promotion who get parachute payments, since their access to such funds expired this past summer.
Reports from Sky News earlier this month highlighted the £915 million ‘new contract’ agreement between the Premier League and EFL that may help teams like West Brom.
In just over a week, on November 21, there will be a vote on the “new deal,” as outlined by Premier League CEO Richard Masters.
“The seasons in between would see payments of £101m, £174m, £178m and £184m.”
What are the potential benefits of the new arrangement for West Brom?
According to football finance expert Dan Plumley, if the new agreement is approved at the vote, teams like the Baggies—who currently do not get parachute payments—will stand to gain the most.
“The start to the season they’ve had is very good but they are still up against the clubs who have parachute payments and we know they are twice as likely to get promoted,” Plumley stated to West Brom News.
“The fight is still ongoing.
“With West Brom vying for a spot, you also need to take into account Southampton, Leeds, and Leicester, three teams that are in the top four.
“That is still the nature of the Championship; if West Brom hadn’t been promoted, they would have benefited more from this kind of arrangement because it represents a significant boost for non-parachute payment clubs that can last for a few years.”
“That could be an extra £6-8 million under the terms of the deal, of course, that’s got to be agreed by the clubs and the EFL and Premier League, but you can see the benefit further down the track for the non-parachute payment clubs as an example.”
Where does the “new deal” fit into the larger scheme of controlling English football?
Days before the King’s Speech, in which the monarch addressed government measures to protect the financial future of the game, reports surfaced of a “new deal” for the financial control of English football.
“Legislation will be brought forward to safeguard the future of football clubs for the benefit of communities and fans,” King Charles stated, as reported by the Guardian.
However, it is currently unclear how the Premier League’s “new deal” and this proposed law relate to one other.
Without parachute payments, Championship teams may benefit from the “new deal.”
Plumley claims that clubs who get parachute payments have twice as much chance of being promoted to the Premier League, as was previously mentioned.
A new agreement could only benefit the second tier overall if it helped level the playing field in the Championship.
Many Championship supporters would rather to see more fairytales a la Luton Town rather than as many bounce-back stories, like Burnley’s promotion from the previous season, return to the Premier League.
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