Exclusive: Kevin Phillips has ‘Slight worry’ for West Brom after EFL chairman update
We’re delighted to welcome former West Brom striker Kevin Phillips as our exclusive columnist. Each week he’ll be giving his views on the biggest talking points at The Hawthorns…
Kevin Phillips is slightly concerned that Rick Parry’s recent comments about parachute payments could have an impact on West Brom’s transfer plans.
EFL chairman Parry told MPs earlier this week, as quoted by The Times, that “parachute payments are an evil that needs to be eradicated” as he aims to close up the financial gulf between the Premier League and the Championship.
West Brom are one of six clubs in the Championship right now who are benefitting from parachute payments who are pocketing, on average, £40million per club.
Albion finished fourth last season and are second this season, suggesting that they have used the parachute payments to keep key players and bring in players and a manager who are capable of taking them to the Premier League.
If those payments are dropped then ex-Baggies star Phillips reckons it could force his former club into rethinking their financial strategy.
When asked if getting rid of parachute payments would change Albion’s transfer plans, Phillips told West Brom News: “It could do but it depends on how much money the owner is willing to put in.
“A lot of clubs, when they’re relegated from the Premier League, they rely on parachute payments for three years to help them get straight back up.
“It’s a slight worry but these owners now are very wealthy. Certainly, the West Brom owner is very wealthy so only time will tell whether or not it has an impact on them.
“Hopefully it won’t and when we do reconvene and get over the line, they won’t have to worry about parachute payments for a while.”
If parachute payments have that much of an impact on results in the Championship then why are West Brom and Fulham the only two teams in the top-eight who are receiving them?
Cardiff are ninth, Swansea tenth, Stoke 17th and Huddersfield are 18th.
There does not seem to be much correlation between parachute payments and results. One-third of the teams receiving the payments are in contention for promotion, another third is mid-table and the final third are in a relegation battle.
Since the 2011/12 season, only three clubs have managed to win promotion back into the Premier League before their three-year parachute payment period has ended, those being Burnley, Hull and Newcastle.
In other West Brom news, West Ham and Sheffield United have made their minds up about Grady Diangana and Callum Robinson’s loan deals at The Hawthorns.
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