Premier League Unanimously Agrees £1.5 Billion Funding Deal with EFL
Premier League clubs unanimously approved a £1.5 billion funding proposal for the English Football League (EFL) over ten years, ending a long-running dispute. The "New Deal for Football" includes a transfer levy increase from 4% to 6% and funds for a "lifeboat" and infrastructure. The proposal, reached under pressure from the newly created Independent Football Regulator, now awaits approval from the EFL's 72 member clubs.
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Premier League Agrees to £1.6 Billion Distribution to Lower Leagues Over 10 Years, Raises Transfer Tax to 6%
The Premier League has reached a landmark agreement to reshape financial distribution within English professional football, allocating an additional £1.5 billion to the English Football League (EFL) over the next decade, on top of the existing £1.6 billion distributed every three years. Clubs voted unanimously in favor of the 'New Deal for Football' at a meeting on Thursday, which now awaits EFL board approval. To fund the extra expenditure, Premier League clubs agreed to increase the transfer tax on all top-flight deals from 4% to 6%, despite initial opposition from Manchester City. Part of the funds will establish a 'lifeboat' fund for clubs in distress and an infrastructure fund. The deal comes after five years of pressure and follows the COVID-19 pandemic's exposure of EFL clubs' financial fragility. The Independent Football Regulator, formed last year, has backstop powers to enforce an agreement if talks break down.
Premier League agrees proposal to share an extra £1.5bn with EFL clubs
The Premier League has unanimously agreed to a proposal to reset financial distribution within English football's top four divisions, offering an additional £1.5 billion to EFL clubs over the next decade. The 'new deal for football' includes a 'lifeboat' fund for clubs in immediate crisis and an infrastructure fund. To cover costs, the transfer levy on top-flight deals would rise from 4% to 6%, a move initially opposed by Manchester City. The proposal, which follows years of negotiations and pressure from the newly created Independent Football Regulator, will now be reviewed by the EFL board. While cautiously optimistic, sources note the deal resembles a 2023 proposal that was never approved, and acceptance is not guaranteed.
Premier League clubs agree funding proposal to present to EFL
Premier League clubs have unanimously approved a funding proposal for a new strategic partnership with the English Football League (EFL), ending a long-running dispute. The deal, expected to last 10 years, will be presented to EFL clubs for a vote in the coming days. While no official figure has been confirmed, Sky News reported the amount as £1.5 billion. The Premier League stated the proposal is fully funded, likely through a transfer levy, and builds on existing commitments of £1.6 billion every three years to the wider game. The agreement follows years of negotiations and government warnings that a deal would be imposed if the leagues failed to reach one. The EFL said it looks forward to reviewing the formal proposal and discussing it with its 72 member clubs.
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Premier League Clubs Unanimously Agree £1.5bn Funding Proposal for EFL
Premier League clubs have unanimously agreed to a new long-term funding proposal for the English Football League (EFL), potentially worth £1.5 billion over the next decade. The agreement, reached on Thursday, follows stalled negotiations in 2024 and the establishment of the Independent Football Regulator (IFR). The proposal includes a possible increase to a transfer levy, with contributions from top-flight clubs proportional to their earnings. The EFL will now review the formal proposal with its 72 member clubs before deciding on next steps. IFR chair David Kogan had previously urged a swift resolution. The deal aims to provide financial stability to the lower tiers of English professional football.
Premier League Agrees £1.5bn Funding Deal with English Football League
Premier League clubs have unanimously agreed to a new long-term funding proposal for the English Football League (EFL), potentially worth £1.5 billion over the next decade. The agreement, reached on Thursday, follows stalled talks in 2024 and the establishment of the Independent Football Regulator (IFR). The EFL will now review the formal proposal with its 72 member clubs. The deal may include an increased transfer levy, with top-flight contributions proportional to club earnings. The IFR, which has powers to impose a solution if parties fail to agree, declined to comment. An EFL spokesperson confirmed constructive discussions with the Premier League and IFR in recent months and said the board will assess the proposal's benefits and implications before further dialogue.