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Bristol Post
Bristol Post
Sport
Richard Forrester

Premier League owner shares update on financial reset and what it means for Bristol City

EPL Bristol City the Premier League EFL Steve Parish Richard Masters Rick Parry Football Crystal Palace League One

Crystal Palace chairman Steve Parish has claimed there is no alternative to parachute payments but the Premier League will increase the amount of cash that is shared among the Football League.

Talks remain ongoing over 'A New Deal for Football' that will see a larger chunk of money filtered down into the football pyramid. The Premier League earns around £3.5billion a year from media rights and sponsorship with around 15 per cent of that (£525m) shared among clubs in the Championship, League One and League Two.

A large proportion of that goes to relegated Premier League clubs in the form of parachute payments, with clubs able to receive £94m over a three-year period to help balance the books and keep clubs afloat due to the decrease in TV revenue and high player wages.

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