Ex-Leeds United chief slams Premier League decision as Newcastle United vote ‘leaked’

The Premier League’s Profit and Sustainability Rules could come to an end this summer after clubs agreed to fast track new rules that mirror a model implemented by UEFA. A meeting between shareholders on Monday saw the clubs agree "to prioritise the swift development and implementation of a new league-wide financial system" to replace the current rules. 

However, the clubs were unable to reach an agreement on a ‘New Deal’ for the EFL despite being informed at the end of February that if no deal could be agreed then one would be imposed on them. The Premier League have reiterated that this will be implemented once the new financial rules come into effect, however, that will likely not happen until after the Premier League’s AGM in June.

According to the Daily Mail, ten Premier League clubs opted against this ‘New Deal’ for the EFL with Arsenal, Chelsea, Tottenham Hotspur, Liverpool, West Ham, Aston Villa, Wolves, Nottingham Forest, Crystal Palace and Bournemouth all voting against the proposal. Former Leeds United chairman - and current Preston North End chairman - Peter Ridsdale has slammed the Premier League’s failure to agree a deal, claiming that the EFL, of whom he is one of three elected representatives from the Championship on their board, would be keen to accept a proposal.

Risdale told BBC Radio Five Live: “There is no offer. It's very frustrating for the whole of English football.

“There is no disagreement with the EFL clubs - it is with the Premier League clubs as to how much of the money is going to come down and where it is coming from, ie, which of the Premier League clubs are going to give us the money.

"We've made it clear to the Premier League that if they put their proposals into a formal offer, we would recommend acceptance. We're sitting here today and we have not had that offer. Despite the fact we were told it was coming last September."

One contentious issue in any new deal would be the removal of parachute payments. Currently, teams relegated from the Premier League are entitled to payments that could near £50m in total, giving them a huge financial advantage over their Championship counterparts.

Ridsdale believes these payments are giving Premier League clubs a massive advantage and that English football is ‘finished’ if this imbalance is not addressed.

“All we want is to make sure we have a sustainable and competitive EFL and obviously you see the cliff-edge between the Premier League and the Championship, with the parachute clubs coming down getting something like £50m in the first year and £40m-odd in the second year, having got relegated.” Ridsdale said.

“We've got teams at the top of our division paying five times more in wages than we [Preston North End] are, and that's showing because they're at the top end of the Championship - and they're doing that based on parachute payments that are coming down from the Premier League.

“The top three teams are Leicester City, Leeds United and Ipswich, then Southampton are fourth. Three of those four came down last year and have got parachute payments. If we don't keep it competitive and sustainable, then English football is finished.”