Premier League says it aims for football-led deal to increase EFL funding over ten years

The Premier League released a statement after a shareholders’ meeting, saying it remains dedicated to reaching a football-led agreement that will channel additional money to EFL clubs. The proposal, formally offered to the EFL last month and presented to all 72 clubs last week, outlines a solidarity payment increase exceeding £1.5 billion over the next ten years, alongside a five-per-cent reduction in parachute payments to relegated clubs over six years.

It also requires clubs to allocate 15 per cent of the new funding to infrastructure projects and establishes a £20 million lifeboat fund for clubs that go into administration. Further cooperation is envisaged on issues such as the Saturday 3 pm blackout, the Carabao Cup format, and the EFL Trophy, which recently secured a five-year title sponsorship with Jersey Mike’s. The EFL cautioned that if clubs reject the offer and trigger the Independent Football Regulator’s back-stop, the resolution could take between one and two years.