The government is preparing to give the independent regulator powers to prevent Premier League clubs from selling their stadiums to related or third-party companies
ShareIn June the Premier League attempted to close the loophole which enables clubs to use one-off profits from the sale of property to escape profitability and sustainability rules charges but failed to get the support of enough clubs. Eleven of the 20 clubs voted in favour of the league’s proposal at their AGM last summer, three votes short of the two-thirds majority required to secure a change in the rulebook.
Stadium sales to related companies are prohibited by the EFL and the government will empower the regulator to impose similar restrictions in the top flight. Under proposals set to feature in the football governance bill – which covers the top five divisions in English men’s football – any club wanting to sell their stadium would need approval from the independent regulator.
DCMS officials are in the final stages of preparing the latest iteration of the bill, which was introduced to parliament by the previous government in April but failed to reach the statute book before the general election. The new bill is expected to include significant differences, with many Labour MP’s pushing for the independent regulator to have powers to determine the level of parachute payments.
The bill will give the regulator backstop powers to impose a financial settlement between the Premier League and the EFL, whose talks are deadlocked. In March, the top-flight clubs put the negotiations over additional fundingthis month has made the likelihood of agreeing a so-called new deal for football with the EFL seem even more remote.
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