Premier League to honour £1.6bn pyramid paymentpublished at 15:14
Simon Stone
Chief football news reporter
The Premier League will honour its commitment to distribute
£1.6bn through the English pyramid even though around £100m in parachute
payments will not be needed following the promotion of Leicester and
Southampton.
Following their relegation last season, Leicester and
Southampton both received in excess of £40m this term for the first year of
what could have been three lots of parachutes.
But the second and third payments, which would have been
around £50m each, will not be paid as even if the pair were relegated again
next season, they would begin a new parachute payment cycle.
The ‘saved’ money usually goes back to the Premier League
clubs for redistribution.
However, BBC Sport has been told even if that is the case,
the £1.6bn across the current three-year TV cycle, as outlined by Premier
League chief executive Richard Masters in April, will be paid.
The Premier League is still to agree a ‘New Deal’ for
funding with the Football League, having shelved talks to prioritise changes to
its own financial rules, which it hopes to sign off at its annual meeting next
week.
Olivia Martin is a dedicated sports journalist based in the UK. With a passion for various athletic disciplines, she covers everything from major league championships to local sports events, delivering up-to-the-minute updates and in-depth analysis.
