Premier League clubs have unanimously voted to approve a proposal to share an additional £1.5 billion with EFL clubs over the next decade. The offer, which includes funds for clubs in crisis and infrastructure, will now be presented to the EFL board for consideration.
This landmark deal aims to provide much-needed financial stability to lower-league clubs and improve infrastructure across English football, addressing long-standing disparities in revenue distribution.
Premier League clubs have unanimously voted to approve a proposal that would see an additional £1.5 billion shared across English football's pyramid over the next decade. The offer, which includes dedicated funds for clubs in immediate crisis and for infrastructure development, will now be presented to the English Football League (EFL) board for consideration.
To finance the increased distribution, Premier League clubs have reportedly agreed to raise the transfer levy applied to all top-flight deals from 4% to 6%. Manchester City was initially reported to be opposed to this increase.
The Premier League stated its clubs were committed to finding a football-led solution and looked forward to continuing discussions with the EFL. The EFL acknowledged constructive talks and confirmed its board would review the proposal's details, including its potential benefits and implications for its 72 clubs.
This agreement comes after five years of discussions regarding increased financial distribution from the Premier League to the rest of the football pyramid. The precarious financial state of many EFL clubs, highlighted by the COVID-19 pandemic, and public pressure have underscored the need for such a settlement. The creation of the Independent Football Regulator, which has a backstop power to force a settlement if an agreement is not reached, was partly influenced by the belief that Premier League revenues could be shared more effectively.