Premier League clubs unanimously agree for major ‘long-term’ funding proposal to be put to EFL | OneFootball

Premier League clubs have unanimously endorsed a new funding proposal destined for the English Football League (EFL), signalling a significant advance in the protracted 'New Deal' discussions.

The Premier League announced on Thursday that this "long-term" proposal, slated to begin in the upcoming season, will now be formally presented to EFL clubs for their consideration.

This development marks a crucial breakthrough, following the halt of financial redistribution talks earlier in 2024.

While the Premier League refrained from confirming specific details, Sky News has previously indicated that the plan encompasses a 10-year period, features an increased transfer levy, and stipulates that contributions will be proportionate to a club’s earnings.

The agreement follows a high-level meeting held on Tuesday, attended by the chairs and chief executives of both the Premier League and the EFL, alongside the chair and chief executive of the Independent Football Regulator.

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IFR chair David Kogan was also in attendance (House of Commons/PA)

A statement from the Premier League read: “Premier League clubs today unanimously voted to approve a funded proposal for a new strategic partnership with the EFL.

“The long-term proposal, which would start in season 2026/27, will now be formally offered to the EFL for discussion with its clubs.

“The Premier League already has long-term funding commitments to invest a record £1.6billion every three years into the wider game and communities.

“The Premier League remains committed to finding a football-led solution and looks forward to continuing discussions with the EFL on progressing this proposal.”

IFR chair David Kogan called on the leagues to swiftly agree a new financial settlement back in February, with the regulator possessing backstop powers to impose a solution if the leagues could not agree one.

Kogan told the leagues earlier this year that the “clock was ticking” on a new deal, with the IFR having been granted backstop powers to impose a settlement on the leagues if they cannot agree one themselves.

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(George Wood/Getty Images)

Speaking at the Financial Times Business of Football Summit in February, Kogan stated that relegation between leagues at all professional levels of the English pyramid could spell a “death sentence” for clubs.

An EFL spokesperson said: “The EFL notes the Premier League’s position following its meeting with clubs earlier today, and now looks forward to receiving its formal proposal for consideration.

“This follows constructive discussions involving the EFL, Premier League and Independent Football Regulator over recent months.

“The EFL Board will then review the full detail of the proposal, including its potential benefits, implications and alignment with the long-term interests of our 72 clubs, ahead of further dialogue with the Premier League.

“The proposal will then be discussed in detail with our member clubs to determine next steps. No further comment will be made at this time.”