Premier League clubs are lining up to voice their opposition to a proposed independent regulator appointed by the U.K. government to oversee English soccer.
All 20 clubs in the top-flight league called for an emergency meeting this week to make their concerns known.
The teams worry an independent regulator could dissuade investors and demand more revenue sharing with other leagues within the pyramid system.
- The proposal came out of a review commissioned by the U.K. government.
- The review made 47 proposals in total, including new standards for team owners (established by the regulator), a new corporate governance code, equal treatment of women’s leagues, and mandated diversity, equality, and inclusion plans for every club.
- The review also proposed additional support from the Premier League to other U.K. leagues through a levy on player transfer fees.
Premier League teams lost around $2.73 billion during the pandemic but have seen recent green shoots. Matches are bringing in around $955 million on average this season, and the league recently signed a U.S. broadcast rights deal with Comcast worth a reported $2.7 billion over six years.
Teams have called for the league to establish a lending pool between $1.36 billion and $2.04 billion, allowing them to borrow at more favorable rates than they get from investment funds and banks.