Premier League chiefs seek to finalise £836m ‘New Deal’ with the EFL before establishment of a new regulator… with clubs to vote on the revised proposal on Monday
- Premier League clubs will vote on an £836 million payment to the EFL over five years
- A number of top clubs still have strong reservations about the deal
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Premier League clubs will vote on Monday on a ‘New Deal’ to pay out £836 million to the EFL over the next five years – ahead of the regulator’s arrival.
A revised proposal, which includes a higher levy on transfers, also requires Championship clubs to adhere to rules that say they can only spend 70 percent of revenue on player fees.
However, it remains unclear whether the deal will generate the necessary votes.
Mail Sport understands that a number of top clubs continue to harbor strong reservations about the deal, which would come on top of existing financial support to the wider game totaling £1.6 billion.
Should the deal be given the green light, it would go to the EFL for approval.
Premier League clubs will vote on Monday on a ‘New Deal’ to pay out £836 million to the EFL
The new proposals include £88 million, which would take the form of arrears for the current season, while the £836 million is based on media revenue.
The top is keen to strike a deal with the EFL before the arrival of the regulator, which may side with the regulators lower down the pyramid.
Some worry that attempts to renegotiate could be made even if both sides agree on a deal, and hope to ensure that any proposals are long-term in nature, lasting as long as 20 years.
The transfer levy would be increased from 4 percent to 6 percent and then to seven percent over the life of the deal. Some believe this could make the Premier League less competitive and – combined with current profit and sustainability rules – make its status as the biggest league in Europe vulnerable.
Legislation is expected later this month. Prime Minister Rishi Sunak has already warned against intervention if agreement remains elusive.
“My hope is that the Premier League and the EFL can reach an appropriate arrangement themselves, that is preferable,” he said in January.