Parachute pay increases to £60m for relegated Premier League clubs
Blow of relegation softened by new payments
Clubs relegated from the Premier League will receive more than £60m over a four-year period from next season.
The Premier League agreed new parachute payments for the next three years, although it has yet to confirm the exact figure, while the issue of solidarity payments to the Football League clubs is still to be finalised. Parachute payments are made to relegated teams to soften the financial blow of demotion.
Premier League clubs are set for an increase in television income from next season, with revenue from domestic and global TV rights deals on course to top £5bn.
The parachute payments used to be paid over two seasons, but are now spread over four after a Football League vote in 2010. Relegated clubs currently receive £48m over four years.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies