The independent regulator will have the power to settle the ongoing row over financial distribution between the Premier League and the EFL
Football's independent regulator will have the power to settle the ongoing row over how money is shared between the Premier League and the EFL.
There was hope that the Premier League's clubs would make a formal offer to the EFL at a meeting last Monday, but none was forthcoming, instead; the Premier League said its clubs were focused on agreeing on new financial rules for the top flight. A statement shared by the Premier League on Monday night said: "The Premier League will now study the Football Governance Bill, working closely with Government, parliamentarians and key stakeholders.
Despite this, Premier League insiders say the EFL challenged them on 15 different issues when the Premier League proposed increased funding and cost controls last September. The main goal of the regulator, once established, will be to ensure the financial stability of clubs in England through a licensing system. This will cover teams from the National League all the way up to the Premier League.
Prime Minister Rishi Sunak stated: "For too long some clubs have been abused by unscrupulous owners who get away with financial mismanagement, which at worst can lead to complete collapse, as we saw in the upsetting cases of Bury and Macclesfield Town.
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