Premier League and EFL set for summit with Football Regulator over new financial deal
An end to one of the longest-running saga plaguing English football could be in sight after the Premier League and English Football League (EFL) stepped up talks over a blockbuster new financial redistribution deal.
Premier League CEO Richard Masters and chair Alison Brittain and their EFL counterparts Trevor Birch and Rick Parry are expected to meet in London today in the latest bid to resolve the row over how English football’s billions are shared. The development was first reported by Mark Kleinman for Sky News.
The Independent Football Regulator’s chair David Kogan and CEO Richard Monks are also set to attend the summit, given that the new government watchdog has ultimate legal powers to impose an agreement on the parties if they continue to fail to reach a deal.
If progress is made, Premier League clubs could be asked to vote as soon as this week on presenting a formal offer to the EFL.
Talks over reform of English football’s financial redistribution model have dragged on for several years, with both the share of Premier League revenues to be diverted to lower divisions and controversial parachute payments central to the dispute.
It has come amid concerns about the growing financial gap between the richest clubs in the game and those further down the pyramid which could, if left unchecked, reduce competitiveness and in some cases endanger smaller teams.
Premier League seeks 10-year deal with EFL
The Premier League generates around £3.65bn annually, mostly from world-leading media rights deals both in the UK and internationally, where it remains by far the most popular domestic league.
It shares £2.8bn with its member clubs, according to league position and the number of matches selected for live television, and pays around £240m in parachute and solidarity payments to teams in the three divisions below – the EFL Championship, League One and League Two.
The new proposals reported to being made by the Premier League would see parachute payments gradually reduced but solidarity payments increase from the current £100m to £110m to over £150m per season. Top-flight chiefs are said to be seeking a 10-year agreement.
Other features of the package include a £20m “lifeboat fund” to help any EFL clubs in administration and a separate pot of money to help clubs outside the Premier League to pay for stadium and other infrastructure improvements.
The Premier League and EFL declined to comment.