20 February 2024 , 18:20
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Premier League clubs have been called to an emergency meeting to resolve a financial deal for the EFL.
The 20 clubs will meet on Thursday, February 29, to try and reach an agreement on a £900m six-year package for the football pyramid after months of deadlock. Prem bosses are keen to get something resolved before the Government steps in with the Football Governance Bill due to go through Parliament in the next few weeks.
A new independent regulator would have the powers to enforce a deal on the Premier League and Culture Secretary Lucy Frazer has urged all parties to come to an agreement.
Premier League clubs could even vote on a deal next week but one club suggested that an agreement “seems a long way off” and there is another follow-up meeting in the diary for March 11.
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Talks stalled before Christmas when the top flight clubs could not reach an agreement about how and who would pay for the new deal for the EFL. EFL chair Rick Parry has warned vast numbers of clubs would go out of business without the support of the mega-rich Premier League.
They have also pointed to the fact that the EFL is a rich source of Premier League stars of the future as well as being vital to local communities. Furthermore, only six clubs - Arsenal, Chelsea, Everton, Liverpool, Manchester United and Tottenham Hotspur - have been Premier League ever presents.
Now the Premier League clubs have been ordered to get a deal done on their terms - or risk leaving it to a new regulator. The sticking point has been around clubs insisting that new Profit and Sustainability Rules have yet to be agreed and therefore they cannot budget for the EFL financial package.
EFL Chair Rick Parry has warned a number of clubs could go out of business if a deal is not reachedrevealed last week that only ten Premier League clubs had attended a dinner organised by Burnley owner Alan Pace to try and improve relations with Championship teams. Those in attendance were Chelsea, Brighton, Bournemouth, Manchester City, Luton, Burnley, Newcastle, Brentford, Wolves and Crystal Palace.
The meeting focused on support and a strategy for relegated clubs which is why there were 17 Championship teams in attendance but it did also look at the Governance Bill in general as well as financial controls across the EFL.
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