Source: REUTERS/Jason Cairnduff
[Saba Sports News] According to British media reports, the Premier League plans to hold a shareholders meeting on November 22 to discuss proposals for a new financial distribution agreement with the EFL in response to the upcoming establishment of an independent football regulatory body. The Premier League has hired a consulting team, including Global Counsel, to provide advice on dealing with the new regulatory body. Several club executives expect that proposing a revised agreement to the EFL will be a key topic. Some executives have stated that reaching a five-year agreement could avoid regulatory intervention and is more likely to gain support from 14 clubs. The previous £836 million distribution plan was stalled in March due to disagreements among parties, while the latest proposal includes providing a total of £88 million in repayable loans to lower leagues. There was hope for a £925 million agreement in the fall of 2023, but it was shelved last December due to internal disagreements. The meeting will also discuss amendments to related party transaction rules. Meanwhile, the case regarding Manchester City’s violation of 115 financial rules is still under review, and changes in the handling of shareholder loans will also affect several Premier League clubs.