Premier League clubs accused of ‘parking the bus’ over new EFL funding deal

Premier League club executives have been accused of “parking the bus” over a new cash offer for the EFL.

Hopes had been raised by top-flight sources of an offer finally being made on Monday, with a deal projected to be worth an extra £900million over six years to the 72 clubs having been on the table.

However, Premier League clubs did not vote on an offer and are instead focused on bringing in a replacement to the controversial profitability and sustainability rules (PSR).

The delay has already faced criticism from former Manchester United captain Gary Neville, and now Dame Caroline Dinenage, the chair of the Culture, Media and Sport (CMS) committee has spoken out.

“The longer this deadlock goes on, the more the stated commitment from Premier League clubs to striking a deal with the rest of the pyramid looks like nothing more than an empty promise,” Dinenage told the PA news agency.

“With the richest teams in the country continuing to park the bus to block a financial settlement, the Premier League’s number should now be up and the Government must urgently introduce its much-trailed legislation to bring an independent regulator into play.

“Every day that goes by without an agreement threatens the financial sustainability of clubs in communities up and down the country.”

The Government has warned the new regulator will have the power to impose a deal on the Premier League and the EFL if they cannot agree one themselves.

The squad cost control measures the Premier League is looking at are not set to be voted on until the league’s annual general meeting at the earliest.

The EFL is set to discuss the matter at a board meeting on Thursday. Until a new deal is signed off, the EFL will not give ground on Carabao Cup semi-final second legs or FA Cup replays.

Premier League clubs today agreed to prioritise the swift development and implementation of a new League-wide financial system.

Clubs also re-confirmed their commitment to securing a sustainably-funded financial agreement with the EFL.

— Premier League (@premierleague) March 11, 2024

That is set to create major congestion next season with UEFA’s club competitions due to expand.

The CMS committee quizzed Premier League chief executive Richard Masters and EFL chairman Rick Parry over the lack of an agreement back in January.

Masters admitted at that time that there had been disagreement over both the size of any offer to the EFL, and where any extra money should come from.

However, Premier League sources had indicated at the last meeting on February 29 that there was reason to be optimistic that a deal would be offered.