British government to introduce independent football regulator
Al Jazeera
The regulator will have the power to fine clubs up to 10 percent of their turnover for noncompliance with financial regulations.
The British government is planning to establish an independent football regulator to oversee the sport and encourage financial stability via a bill introduced in the Parliament.
The regulator will be independent of government and football authorities with the power to fine clubs up to 10 percent of their turnover for noncompliance with financial regulations, the government said in a press release on Tuesday.
The legislation will strengthen tests of the suitability of those running clubs and would also block “closed-shop competitions” such as the frequently proposed European Super League.
Clubs will also be obliged to consult fans over matters such as strategic direction and anything that impacts their heritage.
“For too long some clubs have been abused by unscrupulous owners who get away with financial mismanagement, which at worst can lead to complete collapse,” Prime Minister Rishi Sunak said.
