Premier League club bosses to discuss reform of English Football League financial structure | Soccer News

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Premier League club bosses will meet on Wednesday to discuss fundamental reform of the English Football League’s financial structure – but it is widely determined that some form of parachute payment for relegated clubs will remain.

The proposals are titled ‘A New Deal for Football’ after extensive discussions across the football pyramid since the start of the coronavirus pandemic have so far failed to result in an agreement.

Sky Sports News has been told that while many Championship clubs want to do away with parachute payments altogether, they are almost certain to be retained by the Premier League as there is a strong desire to maintain a financial lifeline for those dropping out of the premiere division.

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The installment payments are one of several key financial issues being debated, alongside plans to filter more money to the lower leagues – particularly Leagues One and Two.

Only once a vote has taken place on the final proposals will the Premier League then have a mandate to give the EFL. No such vote is scheduled for Wednesday.

With pressure from the UK government for more money to be shared in football, Premier League clubs are now keen to reach an agreement on the matter quickly.

The government is due to publish a white paper later this summer on the issue of football funding. At the heart of this is the idea of ​​an independent regulator – something the Premier League has always opposed.

Following last autumn’s Fan Led Review authored by Tracey Crouch, Sports Minister Nigel Huddlestone said in April: “It is clear that radical change is needed to protect the future of our national sport.

“Premier League and Championship clubs now routinely exceed UEFA guidelines not to spend more than 70% of club income on wages, resulting in weak balance sheets in the industry that would be unacceptable in any other area. .”

EFL chairman Rick Parry has been a long-time supporter of scrapping parachute payments. A recent survey conducted by fair game showed that Sheffield United, West Brom, Fulham and Bournemouth received £39m last season in “solidarity” payments, compared to £4.8m for most other Championship clubs.

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