Home » Premier League clubs vow to forge new financial system: sources

Premier League clubs vow to forge new financial system: sources

by Noe
Premier League clubs to finalize new financial system

Clubs around the Premier League are determined to finalize a new financial system that will be implemented next season.

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LEAGUE ASKED CLUBS TO PRIORITIZE NEW FINANCIAL SETTLEMENT

The decision came after the required majority of 14 clubs was not reached which resulted in the scrapping of the planned vote.

The league thus convinced the clubs to make the new financial system a priority at the shareholders’ meeting on Monday, sources said.

“Premier League clubs also re-confirmed their commitment to securing a sustainably funded financial agreement with the EFL (English Football League), subject to the new financial system being formally approved by clubs,” the league said.

BRITISH GOVT WARNED TOP ENGLISH CLUBS ON NEW DEAL

A new agreement between English top-tier club and EFL teams is being pushed by the British government.

It’s either the Premier League or the EFL were told to impose on the other the new financial deal through an independent Football Regulator.
Both the clubs and the league have also assured their commitment to the wider game, which includes a ÂŁ1.6 billion ($2.05 billion) budget.

This budget, the league said, will be distributed to all levels of football across the present three-year cycle.

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