Through a bill that was presented to parliament on Tuesday, the British government intends to create an independent football regulator to monitor the sport and promote financial stability.
According to a press statement from the government, the regulator will be impartial towards both football authorities and the government. Its authority to impose fines on clubs for breaking financial standards might amount to as much as 10% of their turnover.
Stronger eligibility requirements for team owners will be enforced by the law, which will also prohibit “closed-shop competitions” like the regularly suggested European Super League.
Clubs would also be required to confer with supporters on issues pertaining to their legacy and strategic orientation.
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“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,” Rishi Sunak, the prime minister, said.
“This bill is a historic moment for football fans – it will make sure their voices are front and centre, prevent a breakaway league, protect the financial sustainability of clubs, and protect the heritage of our clubs big and small.”
The government’s announcement follows the Premier League’s failure to reach a new financial agreement with the English Football League (EFL), the organization that oversees professional football in lower divisions, last week.
In February, the Premier League received a warning from the government that it would either have to agree to a new arrangement or face having one imposed upon it.
UPCOMING EXPANSION
The Premier League declared it will review the legislation.
“We agree it is vital that football clubs are sustainable, remain at the heart of their communities and that fans are fundamental to the game,” the league stated in a statement.
“(But we are) mindful that the future growth of the Premier League is not guaranteed, we remain concerned about any unintended consequences of legislation that could weaken the competitiveness and appeal of English football.”
EFL applauded the bill.
“We anticipate that it will be a significant turning point in ensuring the long-term financial stability of England’s football league,” stated chairman Rick Parry in a press statement.
“The establishment of the independent football regulator will be at the heart of this reform, and we are encouraged that the regulator will be given backstop powers to deliver financial redistributions should the game be unable to agree a deal itself.”
Owner of West Ham United in the Premier League, David Sullivan, stated he was against the creation of a regulator and that it would be costly and ineffective.
“The Premier League is the best league in the world so why change a winning formula?” he stated to Sky News.
“I hope something that functions isn’t destroyed by the government. This implies that we will face teams from European leagues that provide a small percentage of the revenue that Premier League clubs do to grassroots football and the EFL.”Should the Premier League lose its status as the world’s finest league in the upcoming seasons, it will be the result of government intervention.”
Anita Kobylinska from Gdansk, Janina Nuno Rios from Mexico City, Nick Mulvenney from writing, and Ken Ferris from editing
