The regulator will have the power to impose fines of up to 10% of turnover on clubs that breach financial regulations.
The UK government plans to establish an independent football regulator to oversee the sport and promote financial stability through a bill tabled in Parliament.
The government announced in a press release on Tuesday that the regulator will be independent from the government and the football authorities and will have the power to impose fines of up to 10% of turnover on clubs that breach financial regulations.
The bill would also strengthen fitness checks for governing clubs and block frequently proposed “closed competitions” such as the European Super League.
Clubs also have a duty to consult with fans on matters that affect their strategic direction and tradition.
Chancellor Rishi Sunak said: “For too long, some clubs have been abused by unscrupulous owners who get away with financial mismanagement, which in the worst case scenario could lead to complete collapse.”
“This bill is a historic moment for football fans. It puts the voice of football fans to the forefront, prevents league exit, protects the financial sustainability of clubs and protects the traditions of clubs big and small. It will be.”
Culture Secretary Lucy Fraser said: “Football cannot exist without fans.”
“We are determined to put them back at the heart of the game and ensure the club continues to thrive as a vital asset to the community.
“Football’s new independent regulator will put the game on a sustainable footing and strengthen clubs and the entire football pyramid for generations.”
The Premier League, the world's most-watched and most profitable domestic league, faces a potential reduction in its powers and regulators have previously expressed concerns about the potential for harm to the league and have passed the bill. He said he would consider the matter and work closely with the government. the league's ability to attract investment;
The competition said on Monday: “We note that the future growth of the Premier League is not guaranteed and remain concerned about the unintended consequences of the legislation, which could reduce the competitiveness and attractiveness of English football.” Ta.
The government's announcement comes after the Premier League last week failed to agree a new financial settlement with the English Football League (EFL), which runs the professional game in the lower leagues.
The government warned the Premier League in February that it would have to reach an agreement on a new deal or impose a new contract.
“Why change the winning formula?”
The EFL welcomed the bill.
“We hope [it] “This will be an important milestone in ensuring the long-term financial sustainability of the English football pyramid,” chairman Rick Parry said in a press release.
“The establishment of an independent football regulator is central to this reform. We encourage the regulator to be given backstop powers to make financial redistribution in the event that no agreement can be reached. .”
David Sullivan, owner of Premier League side West Ham United, opposed the establishment of a regulator, suggesting it would be costly and inefficient.
“The Premier League is the best league in the world, so why do we need to change the winning formula?” he told Sky News.
“I hope the government doesn't mess up what is working well. This will help Premier League clubs compete with teams in European leagues who donate a portion of the funds they donate to both the EFL and grassroots football.” means to.
“If the Premier League ceases to be the best league in the world in the next few seasons, it will be because of government intervention.”
