>
The government tells the fearful Premier League to “come to an agreement quickly” as the White Paper for English soccer’s independent regulator is presented, after West Ham owner David Sullivan criticized the “terrible” plans.
The government urged the Premier League to “come to an agreement quickly” after presenting the White Paper to the independent English soccer regulator on Thursday.
Following Tracey Crouch’s fan-led review of football governance, the House of Commons heard details of how the proposed regulator will look and work.
Stuart Andrew, Parliamentary Under-Secretary of State for Sport, who unveiled the White Paper plans to the House on Thursday afternoon, urged the Premier League to reach an agreement with the English Football League on financial distribution soon.
sports mail reported on Wednesday that the Premier League was concerned, with major concerns that upcoming legislation will affect future foreign investment in the division.
Andrew said: “In every meeting I’ve been to, I’ve urged the Premier League and the EFL to come to an agreement and work out the distribution of payments as quickly as possible.”
The government urged the Premier League and the EFL to “come to an agreement quickly” on Thursday.
Stuart Andrew, Parliamentary Under Secretary of State for Sport, pictured in Qatar during the World Cup, revealed the White Paper plans to the House on Thursday.
“But until we have the regulator in place, only then will the powers be available to reach an agreement.
“Please, I urge those involved in those negotiations to get down to business and get down to business quickly.”
Revealing the details of the White Paper, Andrew began with a statement: ‘In this country, football is more than just a sport.
‘It’s part of our history, our heritage and our national way of life, to bring communities across the country together week after week.
“We invented the beautiful game and the Premier League and EFL are true global success stories, exported and viewed in 188 countries around the world, streaming in 880 million homes.
“Despite this global success, it has become clear in recent years that there are systemic problems at the heart of our national game. Since the Premier League was created in 1992, there have been 64 incidents of clubs collapsing by management.
Andrew went on to highlight the “devastating” losses to Bury and Macclesfield, both of whom were ousted from English football as a result of “financial mismanagement”.
He continued: ‘Despite the success of English football, finances are in a perilous state. The combined net debt of Premier League and Championship clubs is now around £6bn.
“Champion clubs spend an unsustainable 125 percent of their income just on player salaries. And some clubs face annual losses in excess of their turnover.
“Too often we hear about gross financial misconduct, unsustainable risk-taking and poor governance, driving clubs to the brink.
“And the owners aren’t just betting on the fans’ beloved clubs. They are threatening the sustainability of the entire football pyramid.’
More to follow.