Premier League Clubs Presented with New Offer for Financial Redistribution

Premier League clubs have been presented with a new offer to settle the issue of financial redistribution across the football pyramid. The league's chief executive, Richard Masters, shared a potential offer with representatives of the 20 clubs that would provide over £900m in increased funding over six years. The proposal will be considered by the clubs before a further meeting on 11 March.

The culture secretary, Lucy Frazer, emphasized the importance of reaching a deal before the proposed independent regulator is established. She stated that the regulator, which will be added to the statute books during this parliament, would have the power to enforce a redistribution deal on the Premier League and EFL if necessary. Frazer urged football to resolve the issues internally, but made it clear that the regulator would intervene if an agreement is not reached.

The precise powers of the regulator have not been discussed, as details of the potential backstop are still uncertain. The football governance bill, which will provide more information on the regulator's role, is expected to be introduced in parliament soon.

The bill has been a topic of curiosity among industry figures, with UEFA's Andrea Traverso expressing interest in its potential effects on European football. However, the exact contents of the bill are not yet known.

The culture secretary confirmed that the legislation will be presented to parliament before the next election, emphasizing that there will be no delay. She has already overseen the publication of a white paper on football governance and conducted consultations on the bill. However, the specific details of the bill remain unknown.