Yesterday we introduced historic legislation to create a new Independent Football Regulator. We are putting fans back at the heart of football, and protecting our national game for generations to come.
We are fortunate to have good local owners at both Stoke City Football Club and Port Vale FC, but for too long some clubs have been abused by unscrupulous owners who get away with financial mismanagement. Together with the attempted breakaway European Superleague, we are at a critical juncture for English football.
That is why we are enshrining an ‘Independent Football Regulator’ in law, giving fans a voice in how their clubs are run and ensuring teams across the leagues are financially sustainable.
The legislation being introduced goes further than the Government’s manifesto commitment, establishing the new ‘Independent Football Regulator’ (IFR) as a standalone body - independent of both Government and the football authorities.
The body will be equipped with robust powers revolving around three core objectives: to improve financial sustainability of clubs, ensure financial resilience across the leagues, and to safeguard the heritage of English football.
Under the Football Governance Bill, new owners and directors will face stronger tests to stop clubs falling into the wrong hands, and face the possibility of being removed and struck off from owning football clubs if they are found to be unsuitable.
The Bill also includes new backstop powers around financial distributions between the Premier League and the English Football League (EFL). These powers mean that if the leagues fail to agree on a new deal on financial distributions, then the backstop can be triggered to ensure a settlement is reached.