“Football Regulator to Maintain Parachute Payments for Relegated Premier League Clubs”

The English football regulator will be mandated not to decrease the parachute payments allocated to clubs relegated from the Premier League, as outlined in new legislation. This bill, released by the government on Thursday, is currently making its way through parliament. It specifies that any financial redistribution agreements established by the regulator must not lead to a reduction in the amount of relegation revenue distributed to clubs. This development aligns with statements made by Lisa Nandy, the secretary of state for culture, media, and sport, who assured Premier League clubs on Wednesday that parachute payments would remain intact, despite being included in the regulator's oversight by the Labour government.