Leeds United would have benefited greatly from a proposed new arrangement, which was up for approval by the Premier League.
After its clubs failed to reach a consensus on a funding proposal for the English Football League (EFL) earlier this week, Gary Neville called the Premier League a “complete disgrace.”
Premier League teams convened on Monday to vote on a new proposal that would see funding trickle down to the EFL; estimates place the deal’s potential value as high as £925 million. However, due to continued concerns about profitability and sustainability rules (PSR), that conversation was postponed in favor of changing their own financial standards.
The 72 member clubs, including Leeds United, are waiting for much-needed certainty as a result of the decision to postpone negotiations on a deal with the EFL, which has garnered significant criticism. After learning of the development, Neville—who co-owns League Two Salford City—took aim at the 20 teams in the top division.
“What interests me more is the vote they were not given, which was to back the Football League, which they keep shoving aside and it’s a complete shame,” Neville stated to Sky Sports. The sustainability of the entire league and the well-being of the game are at stake.
“At this point, the Premier League is being careless in their dismissive behavior, simply putting it off and hoping that a regulator would take care of it eventually. In the meantime, we won’t take any action. That, in my opinion, shows that they are not properly overseeing the entire game, which is not good governance. Every time I watch them having a Premier League meeting and appear to take care of themselves but not the rest of football, it enrages me.
Premier League teams called a “emergency meeting” in light of the ongoing prospect of a new independent regulator. In the event that they are unable to come to an agreement on a settlement price, the government has threatened to use such a body to impose one.
The goal of Monday’s meeting was to change the shareholders’ spending regulations to better align them with UEFA’s Financial Fair Play (FFP) model, rather than concentrating on the EFL arrangement. The discussion takes place amidst a raging scandal that has seen Everton and Nottingham Forest both charged with violations and Leicester City perhaps docked points that could apply to them next season.
“Clubs agreed to prioritise the swift development and implementation of a new league-wide financial system at a Premier League shareholders’ meeting today,” a Premier League spokesperson stated on Monday.
This will give clubs financial stability for the future and guarantee that the Premier League can continue to make the largest investment in the game at all levels.
Premier League clubs also reaffirmed their intention to obtaining a financially sustainable arrangement with the EFL in conjunction with this, provided that clubs publicly ratify the new financial system.
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