Nottingham Forest and other Championship clubs looking for changes
NOTTINGHAM Forest and the other Championship clubs have asked the Football League to come up with a range of options on parachute payments after expressing concern that clubs relegated from the Premier League will have too great a financial advantage.
The concerns were expressed at a meeting of the 24 second-tier clubs today after they were presented with the Premier League's proposals for parachute payments to be £23million for the first year after relegation.
Clubs in the Championship not receiving parachute payments would get just £2.3million.
The outcome of today's meeting was inconclusive, with the Football League board asked to come up with a range of options and to continue discussions with the Premier League, club sources confirmed.
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The increase in parachute payments from £16million is because of the rise in the Premier League's TV rights from 2013-16; and it effectively decides on the level it pays.
The Football League clubs were informed of the proposed rises in a letter from chairman Greg Clarke.
The proposal is for relegated clubs to receive £23million in the first year, £18million in the second and £9million in years three and four. It would mean a possible total of £59million over four years compared to the maximum now of £48million.
The new offer of solidarity payments for League One clubs are for £360,000 and £240,000 a 6.6 per cent and 5.4 per cent rise respectively.