After more than three years of on-off negotiations, the Premier League has presented a formal deal to the English Football League (EFL) to distribute part of elite clubs’ income. This agreement, if finalised, would represent a significant moment for English football.
The proposed deal would provide roughly £1.5bn extra over ten years, with funding partly coming from an increase in the domestic transfer levy from four per cent to six per cent. It also includes a requirement for recipients to spend a minimum of 20 per cent on infrastructure.
However, the EFL's initial response has been to label the terms as inadequate, demanding a larger sum. A straw poll of football insiders suggests EFL chair Rick Parry is likely to hold out for more money.
The proposal also includes a £20m lifeboat fund for EFL teams falling into administration, though this is described as a token gesture given the current rate of clubs encountering financial difficulties.