West Brom could benefit from £150m+ Premier League funding after government intervention
West Brom could be set to benefit from a £915million deal in January, with the Premier League to be summoned by MPs to explain the delay in agreeing a financial settlement with the EFL, according to The Times.
The newspaper reported via their website on 4 January that the culture, media and sport select committee will hold a session in mid-January to ask the Premier League and EFL about their lack of progress.
There is growing pressure for a funding deal to be concluded with a number of EFL clubs experiencing financial difficulties, among which West Brom can count themselves.
The stalling decision has come after the 20 Premier League clubs delayed their vote on the proposal put forward by league officials which would be worth £915million over a six-year period, or £152.5million per year, to the 72 EFL clubs.
Premier League clubs’ reasoning for the delay comes from wanting to know the exact figures they will contribute to the settlement before they agree to any terms.
This proposed deal would also see spending controls introduced in the Premier League and the EFL but while Premier League sides will be able to spend 85 per cent of their income on wages, that will be limited to 70 per cent in the EFL.
This season, each Championship club — apart from those receiving parachute payments — will get £5.19 million in solidarity payments from the Premier League. The new distribution model could see clubs at the top of the Championship receive around £4 million extra a year each.
The select committee may also ask the Premier League and the EFL about other areas of financial regulation, such as profit and sustainability rules and financial fair play, and plans for new financial controls. If any changes are made on that front, it could impact the ongoing takeover talks at The Hawthorns.
In other West Brom news, fines may be on the cards at Albion with paperwork overdue.