davieG Posted 22 July 2007 Posted 22 July 2007 From Sky The Premier League has announced it will hand more than £90million to the Football League over the next three seasons. The extra funding, dubbed a 'solidarity package', will see £31.8m given to the Football League next season as a proportion of top flight income is redistributed to the lower tiers. Premier League chief executive Richard Scudamore (pictured) has explained the importance of the new agreement. "The Premier League and our member clubs recognise the importance of the continued health of the professional game at all levels," said Scudamore. "This solidarity payment means that Football League clubs will have the ability to increase investment in critical areas such as youth development and community programmes, as well as receiving an extra payment virtually equivalent to the one a Championship club receives from their own basic award. "We feel this is a great deal for the Football League and one that we are pleased to have been able to do at this time." The deal will see Football League Youth Development receive £5.4m, Football League club's community investment given £4m, and £11.2m will be available to be distributed amongst the Championship, League One and League Two clubs. An additional £11.2m or £22.4m will also be available from funds remaining for unpaid parachute payments, which are paid to clubs who have suffered Premier League relegation. Next season this figure will be £11.2m because Birmingham and Sunderland, who were both receiving parachute payments, have both been promoted back to the Premier League. Football League Chairman Lord Mawhinney has also welcomed the new venture. "This is a generous gesture by the Premier League and, on behalf of our clubs, I offer my thanks," said Mawhinney. "In part, the need for a payment of this kind stems from the significant financial gap that exists between their league and ours, largely due to the financial success of the Premier League. This positive initiative will help to address this issue."
davieG Posted 22 July 2007 Author Posted 22 July 2007 This is good news, albeit a drop in the ocean but better than a drought. Let's hope the figures increase in subsequent years and leads to a more level playing field at all levels, I wont hold my breath on the last hope.
Flynny Posted 22 July 2007 Posted 22 July 2007 I can imagine this being treated with derision, but when I read this earlier I was genuinely pleased. The Premier League have no obligation to give the Football League any money at all, and when I heard they had I thought the amount would probably be pathetic. But it's not, really: Last season's fifth-placed club, Wolves, will receive £1,383,602, with the sixth-placed club, Southampton, receiving around £75,000 less and so it will continue until the club in 13th place, Cardiff, who will receive £775,909. Clubs finishing 13th and below will all receive that amount. League One clubs will receive £103,480 each, with £68,987 going to League Two clubs. Three quarters of a million is a not insubstantial amount even for a Championship club. The amounts of money given to League One and League Two clubs are also pretty decent. I bet 70k is quite a bit of cash for some League Two clubs.
Thracian Posted 24 July 2007 Posted 24 July 2007 Interesting snippet from Foxpodder on TB: All thanks to £90 m over 3 years from the premier league the BBC reports that .... "Clubs in the second tier of English football will receive an extra £11.2m next season because Sunderland and Birmingham, who made an instant return to the Premier League, will no longer receive parachute payments. That leaves West Brom, Watford, Sheffield United and Charlton as the four parachute clubs. Last season's fifth-placed club, Wolves, will receive £1,383,602, with the sixth-placed club, Southampton, receiving around £75,000 less and so it will continue until the club in 13th place, Cardiff, who will receive £775,909. Clubs finishing 13th and below will all receive that amount. League One clubs will receive £103,480 each, with £68,987 going to League Two clubs." Its for youth development and community projects ... but all eases pressure elsewhere in the budget and maybe ore cash for transfers (well 1 anyway!)
Fez of Mahrez Posted 24 July 2007 Posted 24 July 2007 So "doing nothing" comes in at £775,000 whereas Paddy McCarthy will bring in £650,000. Fair price I feel.
Kent Fox Posted 24 July 2007 Posted 24 July 2007 Wasn't this in another thread somewhere?? I am sure I have read all that on here before.
Sir Fynwy Posted 24 July 2007 Posted 24 July 2007 This was announced yesterday, can't really see how this helps us particularly as every team in the division gets the same (or more if they finished above 13th) money and we have Milan financing the transfers anyway. I'd guess that it'll free up some more cash with some of our rivals and make Milan have to spend less money on the academy (maybe they'll decorate those sheds for the youth team).
Flynny Posted 24 July 2007 Posted 24 July 2007 I posted those figures in a thread someone made about this in GF&S, though Thrac seems to be concentrating on the repercussions for the club rather than the game as a whole.
Geo V Posted 24 July 2007 Posted 24 July 2007 Thank god we have MM and we dont have to look at the financial situation with such scrutiny. The "additional" money made available to the FL may be good but its all about the Premier and lets hope we can get there in the next two or three years.
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