PREM giants face fines of £50m-plus if they fail to engage with the Government’s new Independent Football Regulator.
The long-awaited measure will be introduced in the Commons on Tuesday and is expected to get all-party support.
Among its powers, the Regulator will be able to impose a funding deal between the Prem and the EFL after the process stalled again last week, stop and boot out rogue owners and block clubs from joining any breakaway Super League
But the Regulator will also “have the ability to fine clubs up to 10 per cent their of turnover for non-compliance”
Meaning potentially HUGE penalties, with the Big Six grossing £500m-plus every year.
Tory MPs said the Regulator would prevent repeats of the financial chaos that overtook Bury, Derby, Wigan, Bolton and non-league Rhyl in recent seasons.
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Mid-Derbyshire MP Pauline Latham said: “The Regulator is a new dawn for fans of the beautiful game.
“I am so proud that we managed to save Derby County but many other clubs aren’t as lucky.
“And I don’t want any other fans to face what we did.
“The Government has listened and is taking strong action to give football fans a voice.”
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In a short response, Prem chiefs said they agreed it is “vital that football clubs are sustainable, remain at the heart of their communities and that fans are fundamental to the game”.
However, the Prem warned of the “unintended consequences of legislation that could weaken the competitiveness and appeal of English football”.
By contrast, EFL chief executive Rick Parry hailed an “important milestone to help us secure the long-term financial sustainability” of the pyramid.
Parry added: “If delivered on the right terms, this landmark legislation can help fix the game’s broken financial model to help ensure that all clubs can survive and thrive in a fair and competitive environment.”
Source: Soccer - thesun.co.uk
