Premier League club Crystal Palace Chair Steve Parish said that the "financial ramifications of relegation from the top flight" are "scary" and a Premier League 2 "could be an option if the gap to the Championship continues to grow," according to the PA. Premier League clubs spent a record £1.165B ($1.51B) during the summer transfer window. Parish said that "the huge money being spent on transfers and wages comes with a grave risk" to clubs likely to be fighting relegation. He added, "The scary part for clubs paying big fees and wages is relegation. The parachute money only takes you so far." And with the financial disparity between the Premier League and the English Football League "getting ever bigger," Parish believes the situation "could yet lead to the introduction of a Premier League 2 division." He said, "If you finish mid-table and you're Crystal Palace, you're going to have roughly a £130 million ($169M) turnover. But after four years in the Championship, it'll be about £15 million ($19.5M)-£16 million ($20.8M). What business can really adjust to that? If that gulf widens, possibly you must have a Premier League 2" (PA, 9/25).
