ASA Clears Beckham's Whisky Ad Argentine Footballerr Returns To China Force India To Skip Jerez Test EPL Clubs Dominate Transfer Market Tottenham Chair Backs New Player Lodge Luis Figo To Run For FIFA Presidency Bradford City Co-Chair Blasts Broadcasters Three Bears Slam Ashley Over $15M Deal RFEF Declares War On CSD Head Cardenal Mercedes F1 Team Inks Deal With Epson
Enter amount in full numerical value, without currency symbol or commas (ex: 3000000).
Upcoming Conferences and Events
SBD Global/April 18, 2013/International Football
English Premier League's Relegated Clubs To Receive $92M 'Parachute Payments'
Published April 18, 2013
Football clubs relegated from the EPL will receive in excess of £60M ($92M) "over a four-year period from next season," according to the BBC. The EPL has agreed to new parachute payment arrangements, "although it is yet to confirm the exact figure." Clubs relegated to the Championship currently receive £48M ($73M) over four years. Parachute payments "were introduced to help relegated clubs absorb the huge losses in revenue that accompany dropping out of English football's lucrative top division." The new deal "will remain in place for the next three years" and replaces a deal agreed upon in '10. The revised payments meant that instead of clubs relegated from the EPL receiving £16M ($24M) a year for two years, they received the money over four years -- £15M ($22M) for the first season, £17M ($26M) for the second and then a further two payments of £8M ($12M) per season (BBC, 4/16).