The Premier League is racing against time to finalise a whopping £836million financial deal with pressure from the government and a possible independent regulator hanging over clubs. This 'New Deal' needs the support of at least 14 clubs, including big names like Liverpool and Everton.
On Monday, March 11, all top-flight teams will be asked to give their nod to a revised version of the deal, as reported by Sky News. This comes just before new laws are set to introduce the first official regulator for English football. The Premier League is working hard to get the funding and cost control deal over the line.
Earlier versions have been turned down, but there's hope that the latest one will be accepted at the next Premier League shareholder meeting, and then passed on to the English Football League (EFL). It comes at a time whereby there are still three financial cases against clubs open.
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Everton are waiting for the outcome of being charged for a second time of breaching profitability and sustainability rules (PSRs) having already been docked 10 points - later reduced to six on appeal. Nottingham Forest themselves are in a similar boat, whilst Manchester City have 115 charges to be seen to for entirely different alleged wrongdoings.
Under this bracket, the growing disparity between all levels of the English pyramid, clubs making enormous losses, and others going bust, there is heightened attention on reform. The 'New Deal', put together with the EFL, is in a bid to combat this and more.
It suggests a higher levy on player transfers moving forward among other points.
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