Published 03/20/2024 15:37
Rio – The UK government presented the “Football Governance Bill” to Parliament today, Tuesday (20). Its aim was to establish an independent football regulatory body, with influence over the distribution of match revenue and the power to punish bad owners of Premier League clubs, the first division of the English Championship.
The independent body will have a duty to check clubs' financial health and ability to demonstrate “sound financial practices” when approving a licence. In addition, the club must investigate the source of funds from the purchaser of the shares and ensure that fans are consulted on key issues affecting the clubs.
In cases where owners and directors fail the test, the independent body will have the power to strip certain owners of their right to manage clubs, force them to sell their shares or ban them. Further details will be decided during discussions with Members of Parliament.
If the “Football Governance Bill” is passed, the independent body will have the power to impose a financial deal between the Premier League and the English Football League (EFL), which oversees the lower divisions, on Pyramid's funding. The Premier League said in a statement it would review the legislation and work with the government and members of parliament.
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