Maggie Throup, Member of Parliament for Erewash, has welcomed the news that, for the first time, a new independent regulator for the men’s elite game will be established in law. The regulator will oversee the financial sustainability of the game and put fans back at the heart of how football is run.
The regulator will also 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.
Maggie said:
“We are lucky to have a number of historic football teams close to Erewash. For too long, fans have not been put first and unscrupulous owners have failed to properly protect our clubs.
“That is why I welcome this announcement which will see the current system transformed thanks to new regulations. This will give a voice to the fans who have been ignored for far too long.
“I know football fans across Erewash will be pleased in the knowledge that their beloved clubs will be protected by the Government’s new regulator.”
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.
