| The EFL is set to ask the Premier League for the tens of millions it has saved 16:06 - Apr 27 with 1607 views | Beyriey |
The EFL is set to ask the Premier League for the tens of millions it has saved thanks to the promotions of Watford and N*rwich City.
Both sides were relegated from the top flight last season and would have been due around £70m in parachute payments had they remained in the Championship.
Indeed, the figure remaining in the Premier League’s bank account could hit north of £100m should Bournemouth — the third relegated side — be promoted via the play-offs.
The Daily Mail understands that cash-strapped clubs in all three divisions below the top flight have strongly lobbied the EFL. They want the competition to ask the Premier League for the cash they have saved which would then be split among clubs reeling from the effect of the Covid pandemic.
The request is yet to be made, but it is understood that it will form part of the EFL’s ongoing discussions with the Premier League over increased funding. ‘It makes sense,’ one official at a League One club explained. ‘They gave us grants of £30m last year to help us out but that is a drop in the ocean compared with what they are going to save on parachute payments.’
In the first year, clubs relegated from the Premier League get around £40m, dropping to £35m in the second and £15m in the third — although those who were only in the top flight for one season receive only two years’ worth of payments.
In November, the EFL accepted a £50m rescue package from the Premier League, which included a £30m grant, for clubs in Leagues One and Two. Those in the Championship were given access to £117.5m in loans from a league-secured deal with financial company MetLife Investment Management.
Thoughts?
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| The EFL is set to ask the Premier League for the tens of millions it has saved on 16:08 - Apr 27 with 1578 views | Pinewoodblue |
Originally if a team due to receive a parachute payment gained promotion it was split between championship teams. So just looking to turn the clock back. |  |
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| The EFL is set to ask the Premier League for the tens of millions it has saved on 16:17 - Apr 27 with 1496 views | Metal_Hacker |
| The EFL is set to ask the Premier League for the tens of millions it has saved on 16:08 - Apr 27 by Pinewoodblue |
Originally if a team due to receive a parachute payment gained promotion it was split between championship teams. So just looking to turn the clock back. |
By all accounts it's a contractual thing .If the above happens and those relegated teams subsequently get promoted straight away ,the EPL are supposed to split the monies elsewhere . Apparently in the 20 years or so of this "agreement" the payments have never happened ...according to Simon Jordan |  |
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| The EFL is set to ask the Premier League for the tens of millions it has saved on 16:52 - Apr 27 with 1386 views | WD19 |
So the Premier League is financially much better off if it somehow engineers a way to become an (effective) closed shop with the same c.22-24 teams rotating around year after year.
I, for one, am shocked at this shocking news. |  | | |
| The EFL is set to ask the Premier League for the tens of millions it has saved on 18:29 - Apr 27 with 1138 views | HARRY10 |
| The EFL is set to ask the Premier League for the tens of millions it has saved on 16:17 - Apr 27 by Metal_Hacker |
By all accounts it's a contractual thing .If the above happens and those relegated teams subsequently get promoted straight away ,the EPL are supposed to split the monies elsewhere . Apparently in the 20 years or so of this "agreement" the payments have never happened ...according to Simon Jordan |
I thought that was the case
Any parachute money not paid because of promotion, over the three year period is divied out to other CHs clubs, So it really amounts to the Championship clubs being willing to accept less so that some of the money can be paid to L1/L2 clubs.
While the parachute payments might seem unfair, without them the gab would simply increase and the promotion would be seen as a huge financial burden, that would regularly bankrupt clubs.
Those promoted to the PL will, as elsewhere. make transfer payments over three years as will be the player contracts. So you either stick with the same squad (scum), or burden yourself with commitments you cannot meet if relegated. The former shows what happens there, and the latter can be seen in clubs like Huddersfield, Cardiff, Swansea, Boro etc.
Which would certainly allow other clubs to 'have a go' , but in turn they would simply face the same fate. To the greater detriment of football in general. |  | | |
| The EFL is set to ask the Premier League for the tens of millions it has saved on 08:01 - Apr 28 with 702 views | BryanPlug |
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