Premier League confirm new FFP decision that impacts Arsenal, Chelsea and Tottenham

The Premier League have released a statement regarding a new financial model set to be put in place. As worries around the running of the English top flight continue to grow, a plan has been revealed.

Posted on Monday, March 11, the statement reads: «At a Premier League Shareholders’ meeting today clubs agreed to prioritise the swift development and implementation of a new League-wide financial system.

»This will provide certainty for clubs in relation to their future financial plansand will ensure the Premier League is able to retain its existing world-leading investment to all levels of the game.

«Alongside this, Premier League clubs also re-confirmed their commitment to securing a sustainably funded financial agreement with the EFL, subject to the new financial system being formally approved by clubs.

»The League and clubs also reaffirmed their ongoing and longstanding commitment to the wider game which includes £1.6billion distributed to all levels of football across the current three-year cycle.

«The Premier League’s significant funding contributions cover all EFL clubs and National League clubs, as well as women and girls’ football, and the grassroots of the game.»

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It comes with increased pressure for reform growing due to financial disparity across the pyramid and government plans to appoint an independent regulator.

Currently, there are three sides who have been charged by the league for breaching financial rules. Last year Everton became the first team to be punished for such wrongdoing after they were deducted 10-points for going over the allowed losses