Preston North End director Peter Ridsdale has served a stern warning after the Premier League failed to agree a funding deal with the EFL.
The discussion around the gulf in funding between Premier League and Championship clubs has been going on for a long, long time now.
Clubs held another meeting on Monday in an attempt to thrash out a deal, but no agreement has been reached.
An interesting note here is that Premier League clubs have been warned by Culture Secretary Lucy Frazer that a deal will be imposed on them if they can’t agree one.
Premier League clubs have been urged to strike a deal to improve funding through the football pyramid and stabilise the financial situation for all.
Sunday’s ‘no deal’ stance has resulted in major criticism for Premier League clubs who are dragging their feet, and Peter Ridsdale has now offered his thoughts.
Peter Ridsdale on EFL deal
PNE director Ridsdale currently serves on the EFL board as a club representative, meaning he is plugged-in to the funding talks.
Ridsdale has now told BBC Sport that there is no offer from the Premier League after being unable to agree on a deal thought to be worth around £900million over six years.
Ridsdale claims that the EFL would welcome a different proposal from the Premier League – one which was expected to come last September.
That proposal has not arrived and Ridsdale warned that English football is ‘finished’ if funding isn’t provided.
The PNE chief highlighted that three of the top four Championship clubs were relegated last year with parachute payments creating an unstable situation.
Ridsdale wants to see fairer distribution of money through the EFL and seemingly can’t believe that the Premier League clubs are still stalling.
“There is no offer,” said Ridsdale. “It’s very frustrating for the whole of English football.”
“There is no disagreement with the EFL clubs – it is with the Premier League clubs as to how much of the money is going to come down and where it is coming from, ie, which of the Premier League clubs are going to give us the money. We’ve made it clear to the Premier League that if they put their proposals into a formal offer, we would recommend acceptance. We’re sitting here today and we have not had that offer. Despite the fact we were told it was coming last September.”
“All we want is to make sure we have a sustainable and competitive EFL and obviously you see the cliff-edge between the Premier League and the Championship, with the parachute clubs coming down getting something like £50m in the first year and £40m-odd in the second year, having got relegated.”
“We’ve got teams at the top of our division paying five times more in wages than we are, and that’s showing because they’re at the top end of the Championship – and they’re doing that based on parachute payments that are coming down from the Premier League. The top three teams are Leicester City, Leeds United and Ipswich, then Southampton are fourth. Three of those four came down last year and have got parachute payments.”
“If we don’t keep it competitive and sustainable, then English football is finished,” he added.
There is a real chance that Leicester City, Leeds United and Southampton all go straight back up – the first time all three relegated Premier League clubs would have achieved immediate returns to the top flight.
That situation has highlighted the financial disparity in the Championship and then further down the pyramid, with Ridsdale and co seemingly open to the Premier League offering alternative ideas.
That hasn’t arrived and with no offer on the table, an independent regulator may well be called in to force a deal.