Premier League to increase solidarity payments to the Football League
Fri 19th Mar 2010 | Money & Finance
The Premier League is preparing to pledge more than £100 million a season to the Football League in an attempt to bridge the financial gulf that has taken numerous clubs to the brink of ruin as reported in the Times newspaper toady..
It’s thought that the deal, which has yet to be ratified, will see clubs relegated from the Premier League receive parachute payments for up to four years instead of two as is the current deal. It is hoped this will bring greater financial stability to clubs.
It is also expected that there will be a significant increase in the solidarity payments to the Football League and its 72 member clubs. Under the terms of a three-year deal signed in July 2007, the Premier League is committed to paying £20.6 million a season to the Football League in solidarity payments — £5.4 million to invest in youth development, £4 million for community programmes and a further £11.2 million to distribute among the 72 clubs — in addition to parachute payments of £11.2 million for those clubs relegated in either of the previous two seasons.
The new proposals would mean a maximum overall parachute payment of £48 million per club, with the sum potentially starting at £16 million in the first season and continuing to £8 million in the fourth season in the event that the club have not won promotion back to the top flight.
Mon 27th Mar 2017 | Money & Finance
It is that time of year again….the happy financial prospect of promotion for a few or the nightmarish vision of relegation for other clubs. So how does league status affect a club’s...
Thu 9th Mar 2017 | Money & Finance
Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...
Thu 2nd Mar 2017 | Money & Finance
Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...
Wed 1st Mar 2017 | Money & Finance
Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...