Premier League to study Football Governance Bill
LONDON, (Reuters) - The Premier League will study the Football Governance Bill, it said yesterday, as the organising body works with the government and stakeholders after top-flight clubs failed to agree on a new support package for the football pyramid.
The Premier League was warned by the government in February to reach an agreement for a new financial deal with the Football League (EFL) teams below the top tier or have one imposed by an independent Football Regulator.
The Premier League last week failed to agree a new financial settlement, British media reported, as a planned vote was scrapped when it became clear it would not be supported by the required majority of 14 clubs.
"The Premier League will now study the Football Governance Bill, working closely with Government, parliamentarians and key stakeholders," the league said in a statement.
"We agree it is vital that football clubs are sustainable, remain at the heart of their communities and that fans are fundamental to the game."
The league, however, expressed its concerns over the new regulations potentially affecting the competition.
"Mindful that the future growth of the Premier League is not guaranteed, we remain concerned about any unintended consequences of legislation that could weaken the competitiveness and appeal of English football," it said.
The Chair of the Culture, Media and Sport Committee Caroline Dinenage advocated the introduction of a regulator.
"The failure of English football's wealthiest clubs to agree a deal is putting at risk the very fabric of our national game and has dragged on for far too long," she said in a statement.
"Today's firm step towards the introduction of a statutory regulator to hold these clubs to account ... gives some hope that teams right down the pyramid that are so important to their local communities, can have a sustainable future.
"We will be looking closely at the Bill to make sure that the proposed powers are fit for purpose.
"We need a regulator that has real teeth. It must be sufficiently independent and resourced and given the powers it needs to rebalance the sport away from the self-interest of the top clubs and deliver in the interests of all fans."