English football's financial future is under the spotlight today as leaders from the Premier League and English Football League (EFL) meet in London. The summit, also attended by the Independent Football Regulator, aims to resolve the ongoing dispute over how the sport's substantial revenues are shared.
Premier League CEO Richard Masters and chair Alison Brittain are present, alongside EFL counterparts Trevor Birch and Rick Parry. The Independent Football Regulator's chair David Kogan and CEO Richard Monks are also attending, given the watchdog's legal authority to impose an agreement if the parties fail to reach a consensus.
If progress is made during today's talks, Premier League clubs could be asked to vote as early as this week on a formal offer to the EFL. The dispute has centred on the share of Premier League revenues for lower divisions and the controversial parachute payments.
Reported proposals from the Premier League suggest a gradual reduction in parachute payments, while solidarity payments could increase from the current £100m-£110m to over £150m per season. Top-flight officials are reportedly seeking a 10-year agreement. The package is also said to include a £20m “lifeboat fund” for EFL clubs in administration and a separate fund for stadium and infrastructure improvements for non-Premier League clubs.