Gary Neville insists that the new Independent Regulator will not harm Premier League finances as he warned against the idea that top flight clubs will suffer as a result.
The Sky Sports pundit, who is also co-owner of League Two side Salford City, has long called for Government intervention following the failed Super League breakaway attempts. Neville is also an advocate of Premier League sides doing more to help protect the football pyramid, such as financial support.
The government will publish its White Paper on football governance on Thursday which will lead to changes regarding any future breakaway leagues as well as financial support from the top flight down through a solidarity transfer levy and new owners' tests.
There have been fears that such regulation will hamper English clubs against their European counterparts, who are not as strictly governed. Neville has highlighted the mammoth transfer spend of the Premier League in recent seasons as proof its member clubs won't be hampered.
He said on Twitter : "So the Independent Regulator White Paper will be brought forward today. Please ignore any Premier League spin/PR that this will make them less competitive than Europe and will mean EPL clubs are at a disadvantage. The EPL outspends Europe by astronomical amounts!"
Former sports minister Tracey Crouch, who conducted a fan-led review into English football, which has since been acted upon, said: "This is a big day for football in this country and I am delighted the Government has acted on the key strategic recommendations in my review.
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"The introduction of a new independent regulator of football will strengthen our incredible pyramid, giving investors, fans and communities confidence in the governance of our clubs, enabling them to thrive in the best leagues in the world. Football is nothing without its fans, and the announcement today will ensure they remain at its heart while it continues to grow at home and abroad."
Sports Minister Stuart Andrew told GB News : “We’re obviously committed to doing a fan-led review as part of our manifesto that was ably done by Tracey Crouch, my colleague, and that came up with a number of recommendations after hearing a lot of evidence from fans.
“It's clear that whilst there's lots to celebrate about English football, it is a massive success, not just in this country, but right across the globe. There clearly are some serious problems and so what we're doing today is publishing a white paper in which we will bring in an independent regulator that will seek to ensure that clubs are more sustainable.
“That will hopefully then bring forward more stability within the football pyramid because at the end of the day, we're concerned about the fans. They're the ones that invest so much in their clubs. They're really important to their local communities and we want to make sure that that success is built on and it's there for years to come.”
West Ham chief David Sullivan is among the first to speak out against the plans however, stating: “The Premier League is the best run, most successful league in the world. It gives away more money to lower leagues, grassroots and the PFA than any other league anywhere. It’s a fantastic export. Why does an incompetent government think it will improve things?"
The Premier League is fearful that the new regulation could deter future investors and buyers. The league has said that it would work to prevent “any unintended consequences that could affect the Premier League’s position as the most-watched football league in the world”.
The news comes as Manchester United owners the Glazer family are in the process of assessing bids for a takeover. Among the bidders are Britain's richest man, Sir Jim Ratcliffe - owner of petrochemicals giant INEOS, as well as Qatari billionaire Sheikh Jassim bin Hamad Al Thani.
Liverpool's owners Fenway Sports Group are also currently open to outside investment, though CEO John Henry insisted this week the club was not for sale.
