adminThe Foxes have been asked to submit their response to the proposal.
The Premier League has reiterated its intention to finalise a ‘New Deal’ with the EFL as quickly as possible, which would see solidarity payments to the 72 EFL clubs, including Leicester City, more than double.
The 10-year proposal was put to EFL clubs last week following discussions between executives from both leagues.
Documents seen by the Press Association reveal that the offer includes a commitment to raise solidarity payments to the EFL by £163million a year by 2028-29, more than twice the current estimated figure of £134m. The agreement also promises an additional £81m during the current season.
The increased funding is understood to be linked to fresh agreements over cost controls, a commitment to change the Carabao Cup semi-finals to a single-leg format to help ease fixture congestion, and an agreement on the Saturday 3pm blackout ahead of the next domestic broadcasting deals.
Top-flight clubs held their first shareholders’ meeting since the beginning of the season in London on Thursday and voiced their determination to reach an agreement promptly.
“Since a fair and generous proposal was formally offered to the EFL last month, discussions have continued between the leagues’ executives, and it was presented to EFL clubs last week,” a league statement read.
“The Premier League remains committed to concluding a football-led solution as soon as possible so additional money can flow to EFL clubs this season.”
The mention of a “football-led solution” refers to the possibility that the Independent Football Regulator’s ‘backstop’ powers could be activated by either league to impose an arrangement if the two sides fail to reach an agreement themselves.
The IFR is expected to publish its ‘State of the Game’ review in the coming weeks. The report will outline the regulator’s assessment of the financial condition of the English game, and some believe its findings could improve the EFL’s negotiating position.
However, EFL clubs are understood to have been told by league executives that using the backstop could result in them waiting as long as two years for a new agreement to be approved, while the eventual outcome would be uncertain.
There was no indication on Thursday that the forthcoming publication of the ‘State of the Game’ review was being viewed as a deadline for reaching an agreement by the Premier League or its clubs.
EFL clubs have been invited to submit their views on the Premier League’s proposal ahead of further discussions scheduled for early next month.
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