Premier League clubs have unanimously backed a new funding proposal for the English Football League (EFL), signalling a major breakthrough in the long-running 'New Deal' discussions. This "long-term" proposal, set to kick off in the 2026/27 season, will now be formally presented to EFL clubs for their consideration.
The Premier League announced on Thursday that this development follows a halt in financial redistribution talks earlier in 2024. While specific details remain unconfirmed by the Premier League, Sky News has previously reported the plan may span 10 years, include an increased transfer levy, and link contributions to a club’s earnings.
The agreement comes after a high-level meeting on Tuesday involving chairs and chief executives from both leagues, alongside the Independent Football Regulator (IFR). The IFR's chair, David Kogan, had previously urged the leagues to agree on a new financial settlement, noting the regulator's backstop powers to impose a solution if an agreement isn't reached.
An EFL spokesperson confirmed they have noted the Premier League's position and anticipate receiving the formal proposal. The EFL Board will review the details before further dialogue with the Premier League and discussions with its 72 member clubs to determine the next steps.