A further caution regarding the independent regulator has been issued to the Premier League and EFL.
An independent regulator has threatened to force the Premier League and EFL to commit to a new financial and cost control agreement.
At its next meeting, which is scheduled for March 11, the Premier League intends to make the EFL a fresh offer.
The government wants football to find a solution on its own, according to Culture Secretary Lucy Frazer, but she cautioned that the regulator has the authority to act as a “backstop” if a settlement cannot be struck.
“If they can’t agree on a solution that works for them, the regulator will step in and make the necessary changes. This is something they should do, according to Frazer. “The government has no business knowing what’s in the deal; I believe both leagues have skilled negotiators.” I’ve spoken with every team and told them that reaching a settlement is in their best interests.”
The EFL club sources felt under duress to accept the Premier League’s offer and compared a meeting with Frazer to a “car crash”.
Additionally, they think the regulator won’t examine the agreement to make sure English professional football is sustainable. Last month, EFL chairman Rick Parry told MPs that he thinks the regulator’s independent study is the only source of the “right solution”.
Cost-control strategies have been a source of contention in the past. It is believed that Championship clubs will function with a squad cost-to-revenue ratio akin to the 70 percent that will be implemented at the European level.
Clubs relegated from the Premier League would have the ability to spend 85% of the higher sum. The six-year agreement is expected to provide EFL clubs with an additional £900 million in funding.
The way that his favourite side, Everton, is treated, according to Greater Manchester Mayor Andy Burnham, indicates how urgently an independent regulator needs to be appointed.
An independent appeal board determined that Everton should lose six points from their season’s total score for violating Premier League financial regulations.
But according to Frazer, the regulator wouldn’t intervene in an instance similar to Everton’s. “That wouldn’t be a question for the regulator,” she stated.
“The regulator will only be concerned with financial stability because we want to leave it to football. Deductions of points would not fall under the regulator’s purview.
“I want to make sure that the Premier League continues to be a fantastic, elite league that is a significant cultural export. Every nation may witness the power of football and the Premier League. We do not wish to harm that.
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