The 2026-27 Championship season is anticipated to be one of the most open and competitive in recent memory. Just four of the 24 clubs in the second tier will benefit from parachute payments this season.
Newly relegated West Ham, Wolves, and Burnley are among those receiving parachute payments. Southampton, the fourth club, will start the campaign with a four-point penalty following a 'spygate' scandal.
Lincoln City makes its return to the division for the first time since 1961, while Cardiff bounced back after a 12-month absence as runners-up. Bolton Wanderers also joins the Championship for the first time since 2019.
As Wolves and Blackburn prepare to kick off the season on Friday, BBC Sport correspondents have provided a club-by-club breakdown. The transfer window remains open until 1 September, potentially bringing further changes to squads.