Premier League faces backlash after failing to reach financial deal with EFL | first division

Premier League clubs walk away from deal to give English players more money Soccer Leaguerisking a dispute with the government and jeopardizing the position of Premier League chief executive Richard Masters.

More than two years since ministers first asked top-tier clubs to provide additional funding to help stabilize the football pyramid, clubs have decided not to proceed with a vote on a proposed new deal at a meeting in central London on Monday, choosing to push for reform. of its own financial rules.

While a vote was passed on elements of possible new financial structures, with the current Profit and Sustainability (PSR) rules that have seen Everton sanctioned this season He is expected to be replaced, the chance of a deal now having been substantially reduced and the Premier League cannot say when discussions could resume.

The government has repeatedly threatened that the proposed new regulator for English football would impose a deal if an independent agreement was not reached. This was a point repeated publicly by culture secretary Lucy Frazer less than two weeks ago and in a private message to first division clubs.

There is still no set date for the bill that would establish a regulator to be presented to parliament, and time is running out before the general election arrives. The possibility remains that the government will be unable to follow through on its threat, but there is no doubt that the Premier League and the Masters have spent a lot of energy since the start of the year trying to get their clubs to agree to a financial package, and were hoping to put it to a vote. at their last meeting, but was rejected.

The inability to reach an agreement is a problem for the Premier League in general and for the Masters personally. Masters, a former Premier League director of sales and marketing, took over as chief executive in 2018, initially on an interim basis, but took on the role full-time after two external candidates were appointed but later withdrew from the role. He has since steered the Premier League through Covid testing and generated increased television revenue, but has also seen his 20 shareholder clubs become increasingly fractured over the future direction of the competition.

A proposed ban on clubs loaning players from shared ownership clubs has been rejected, revealing the extent of the influence of multi-club groups within the Premier League, while proposed rules on 'related party transactions' ” (which are considered to restrict the capabilities of state-owned companies) clubs – have proven controversial. Meanwhile, Everton became the first club to be penalized with a points deduction for violating the PSR, a decision that sparked a massive public backlash and personally embroiled Masters in controversy after he appeared to call out the ever-present team of the Premier League a “small” club during a meeting with deputies.

In a statement, the Premier League said the clubs had “reconfirmed” their commitment to reaching an agreement. A statement read: “At a Premier League shareholders meeting today, clubs agreed to prioritize the rapid development and implementation of a new League-wide financial system. This will provide certainty to clubs in relation to their future financial plans and ensure the Premier League can retain its existing world-leading investment across all levels of the game.

“In addition, Premier League clubs have also reconfirmed their commitment to securing a sustainably funded financial agreement with the EFL, subject to the clubs formally approving the new financial system.”