Robert Largan MP has welcomed the news that for the first time, a new independent regulator for the men’s elite game will be established in law to oversee the financial sustainability of the game and put fans back at the heart of how the game is run.
The regulator will implement a new licensing system from the Premier League to the National League that will require clubs to demonstrate sound financial business models and good corporate governance as part of an application process before being allowed to compete.
Fans will also have a greater say in the strategic running of their clubs. The Regulator will require clubs to comply with the FA on their new rules for heritage which will give fans a veto over changes to the badge and home shirt colours in addition to the strong existing protections for club names. In addition, clubs will have to seek the approval of the regulator for any sale or relocation of the stadium, with fan engagement a major part of that process.
There will be new tests for owners and directors, ensuring good custodians of clubs, stronger due diligence on sources of wealth and a requirement for robust financial planning.
The regulator will have a targeted power of last resort to intervene in relation to financial distributions, to deliver a solution if football fails to itself. This will ensure greater financial protection for clubs throughout the entire pyramid.
The regulator will have the power to prevent English clubs from joining new competitions which do not meet the predetermined criteria, in consultation with the FA. This will stop any future attempts at closed shop breakaway competitions like the European Super League.
Robert Largan, MP for High Peak, commented:
“Fans are the lifeblood of any club, from the Premier League down to the non-league teams like Buxton, Glossop North End or New Mills FC. When Buxton FC hosted League One side Morecambe in the FA Cup last season the crowd of 3,642 was the largest seen at Silverlands since 1962.
“It is clear that football clubs aren’t like any other business; they are historic community assets that need protection from unscrupulous owners. That is why I welcome the establishment of a new independent regulator for the men’s elite game. This will give a voice to the fans who have been ignored for far too long.”
