THE appointment of an Independent Regulator for football, following a major review of the game, has been welcomed by North West Cambridgeshire MP Shailesh Vara. It is one of several recommendations in a report chaired by Tracey Crouch MP at the request of the government following the controversy over the proposed European Super League.
The regulator will require clubs to show they are financially sound with robust corporate governance. Importantly, the regulator will be responsible for ensuring stability of the wider football 'pyramid' with power to intervene when the financial position of the pyramid is at risk. If clubs are unable to resolve matters directly, the regulator will be able to step in to safeguard the game.
Other key recommendations include strengthening the test for club owners and directors, and greater tests on the source of club funds. Fans will have more say in the running of clubs and the regulator will have powers to block clubs from joining breakaway leagues, such as the European Super League.
Speaking with Leighton Mitchell, interim chief executive officer at Peterborough United Football Club, Shailesh said POSH has his full support as these radical changes are implemented. Together with neighbouring MP Paul Bristow, he particularly welcomed the proposal for a fairer distribution of wealth throughout the football pyramid, to ensure all clubs are sustainable.
Afterwards he told us: "English football is a global success and we must ensure it remains so. These proposals, endorsed by the government after a major fan-led review, will help protect and safeguard clubs across England, especially smaller clubs such as our own much-loved POSH."
Mr Mitchell added: "We welcome the findings of the White Paper including the appointment of an independent regulator. The package of proposals represents an opportunity to ensure the long-term stability of the game and improve the financial sustainability of individual clubs."
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