Premier League owner shares update on financial reset and what it means for Bristol City

According to bristolpost, Crystal Palace chairman Steve Parish has claimed there is no alternative to parachute payments but the Premier League will increase the amount of cash that is shared among the Football League.Information Guide Nigeria

Talks remain ongoing over ‘A New Deal for Football’ that will see a larger chunk of money filtered down into the football pyramid. The Premier League earns around £3.5billion a year from media rights and sponsorship with around 15 per cent of that (£525m) shared among clubs in the Championship, League One and League Two.

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The report has it that a large proportion of that goes to relegated Premier League clubs in the form of parachute payments, with clubs able to receive £94m over a three-year period to help balance the books and keep clubs afloat due to the decrease in TV revenue and high player wages.NYSC Portal

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Bristol City owner Steve Lansdown has been critical of the system in the past and the unfair playing advantage it creates. It forces other Championship clubs to spend big to match their rival’s ambitions meaning their expenditure is higher than their revenue.

Research conducted by Sheffield Hallam University’s Business School last year confirmed clubs have a 22 per cent chance of being promoted in the last four years with the extra cash compared to 7.3 per cent without – also meaning sides are twice as likely to go up compared to the years prior.

EFL chairman Rick Parry and Premier League chief executive Richard Masters spoke to MPs last month where they signalled their intentions to create a fairer distribution of money across the EFL ahead of next season but parachute payments remain unresolved.JAMB Result

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