5 Aug 2010English Premier League strikes deal with Football League

Football Finance News | Football Leagues/ Association and Governance

Bosses from the English Premier League and Football League have reached an agreement over parachute payments for relegated sides, which will see the top flight pump £372 million into the lower leagues over three seasons.

The funding will be provided on a sliding scale, with Championship teams receiving £2.2 million per season, League One teams £335,000 and League Two teams £225,000 to help them adjust to life outside the top division.

Chief executive Richard Scudamore welcomed the news and explained: "The [English Premier League] clubs felt strongly that a stronger Championship would be greatly beneficial to both competitions."

For the first time, football clubs will also be obliged to publicly release details of their stakeholders - which is likely to impact teams such as Leeds United, whose day to day affairs are handled by Ken Bates, but whose ownership remains unclear.

A raft of new regulations have been introduced into English football ahead of the new season, including restrictions on playing squads and quotas of academy youngsters.

Written by Paul Roberts 

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