July 31 – Premier League clubs have unanimously backed a proposal that would inject an additional £1.5 billion into the English football pyramid over the next decade, marking the biggest step yet towards ending years of negotiations over the game’s financial distribution.
If accepted, the agreement would provide the £1.5 billion in extra funding (£150 million per year), on top of the existing £1.6 billion distributed every three years to EFL clubs and community programmes. The proposal also includes ringfenced funds to support clubs facing financial distress and to help finance infrastructure projects. The increased commitment is expected to be funded by raising the levy on Premier League transfers from 4% to 6%.
The division's highest earners would have to pay the most, thanks to the proposed redistribution formula, rather than every club paying the same.
The Premier League said its clubs had “unanimously voted to approve a funded proposal for a new strategic partnership with the EFL” and looked forward to continuing discussions to reach what it described as a “football-led solution”. "The Premier League already has long-term funding commitments to invest a record £1.6billion every three years into the wider game and communities," said the Premier League. "The Premier League remains committed to finding a football-led solution and looks forward to continuing discussions with the EFL on progressing this proposal."
The package, described by the Premier League as the basis for a new strategic partnership with the EFL, will now be presented to the EFL’s board for consideration. The EFL has acknowledged what it called constructive talks but said it is yet to formally receive the proposal. Once it does, its board will examine the financial package, the wider implications and whether it meets the long-term needs of its 72 member clubs before responding.
"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," said the EFL. "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."