Premier League To Change Finance Rules

In response to government requests, the Premier League has proposed to strengthen its financial regulations, announced by its chief executive Richard Scudamore.

Sports Minister Andy Burnham and the English Football Association have been pushing the Premier League to face the financial burdens of the clubs, including ever-increasing debt.

In an effort to curb the financial dilemmas and create more transparency with expenses, the Premier League’s plans aim to conduct an independent audit of club accounts to make sure it is financially stable.

Additionally, the proposal includes an annual requirement for the clubs to show they do not have outstanding debts, improved ownership rules requiring the disclosure of any interest in a club over a 10% shareholding, and an extension of the rule that deems conviction for certain offences renders a person illegible for club ownership.

According to Scudamore, the proposed actions need to be approved by the league’s clubs. Should they give the go ahead, the new guidelines could be in place for the beginning of next season .