Premier League to extend parachute payments
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Parachute payments for relegated clubs would total £48million over four years if new Premier League proposals are agreed.
Under the plan, which has to be agreed by the Football League as part of the solidarity package of payments made to them by the top-flight clubs, the parachute payments would be made over four years rather than two.
Those clubs relegated to the Championship this season will receive £16million a year for two years, while under the new proposals relegated clubs would get £16million for each of the first two years and then £8million for each of the second two years.
The proposal was discussed at today's meeting of Premier League chairmen but no vote was taken - a final decision will be made at their annual summer meeting in June once an agreement with the Football League has been reached.
West Ham owner David Gold told Sky Sports: "It also helps the Football League and indeed all the way down to the lower divisions.
"It's percentages of the available TV money which is a standard process and that has traditionally been 50% for the first two years and now we've got an additional 25% for years three and four, which I think is excellent and I'm delighted.
"I think a total for the four years would probably amount to somewhere in the region of £48million."
The payments are part of the solidarity package of money paid to the Football League over the next three years. The 2007-10 package saw more than £90million handed over including £5.4million for youth development.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments