EPL Clubs Want $101M Relegation Parachute Payments Paid Over Two Years Instead Of Four
Premier League clubs are "fighting to change the way parachute payments for relegation are paid -- so they would be entitled" to £60M ($101M) over just two years, according to Joe Bernstein of the London DAILY MAIL. The 20 top-flight clubs agreed to a "new parachute deal -- viewed as insurance against relegation -- a year ago," with £60M spread over four years. But there are concerns it is spread "too thinly to protect teams because of the huge wages needed to compete in the top flight." Several Premier League clubs are in favor because they believe the "extra money would help them hold on to their best players and biggest earners." The matter is "due to be discussed at the annual end-of-season meeting of Premier League chairmen in Harrogate on June 5-6" (DAILY MAIL, 5/24).