Proposed changes to the Premier league

[Pejic300]

From today's Times.



The EFL rejected a £375 million offer from an American investment firm for a 20 per cent stake in the league that would have helped to solve the clubs’ cash crisis, it can be revealed.
TPG Capital offered the cash as part of an arrangement that was similar to CVC Capital Partners’ deal with Premiership Rugby when it took a 27 per cent stake. It is understood that the EFL turned down the offer on Friday, two days before Rick Parry, its chairman, revealed details of the plan he is involved in, alongside the respective American owners of Liverpool and Manchester United, to revolutionise English football with Project Big Picture.
As part of the deal, TPG — previously known as Texas Pacific Group — would have been able to put in place a management team to handle the EFL’s commercial and broadcasting rights, believing it would have a much better ability to maximise its potential.
It is thought that the offer was not put to the 72 EFL clubs but discussed by the league’s commercial chiefs before being rejected. The EFL declined to comment.
The EFL, which is seeking a £250 million bailout because of the Covid-19 crisis, suffered another significant blow when David Baldwin, the league’s chief executive, quit after less than six months in the position. Baldwin, the 49-year-old former Burnley chief executive, announced his decision to the EFL board yesterday.

The EFL said the decision was not related to Project Big Picture, but it is understood it is partly linked to frustrations around dealing with the Covid-19 crisis as well as personal family issues. He is expected to work out a six-month notice period.
Baldwin, who had been involved in making the case to the government for the safe return of fans, as well as negotiating for a financial support package with the Premier League, saw through a change to the EFL’s rules so that League One and League Two clubs are subject to a salary cap.
In a statement he said: “Clearly, accepting this position pre-Covid-19 means the situation is now very different to the one I envisaged.

 

[barneygumble]

While not in support in any way of these, the proposals are clear and we would indeed hold special shareholder voting rights under them, it's not a question as we are proposed to be one of the teams with shareholder rights.

Yes I’m Aware, but what a that actually worth to us?

Oh we’ve got the approval, and we’re a special side... all it will take is the 6 of 9 creating a rule suggesting we get no further rights.

We’d never be able to suggest anything, unless it suited them.

There’s stuff in there I like, but the power is ultimately the big alarm there and is the most significant feature.

It’s a huge no from me, regardless of whether we’re part of it.

 

[catcherintherye]

Yep.

Spurs and City weren't a draw until they got into the champions league for example.

Top 2 turned into a top 3, then a top 4 now it's a top 6. A big reason is champions league reach and a few years at the top end of the table.

Leicester or even we do the same for 3 years...the structure changes.

United spend 5 years midtable they become less of a draw for example

Essentially yes. Whoever is top of the PL is a bigger draw. It's not the team themselves though. It team x or y left the league, team a,b or c would merely fill their place.

 

[catcherintherye]

No coincidence both main protagonists in the drama are American owned. American sports operate closed leagues, there is no effective promotion or relegation and no threat of a sudden cataclysmic drop in revenue. Fenway have expressed frustration in the past at the way the prem operates with equal shares and doesn't fully incorporate it's rewards according to who is the biggest audience puller globally.

Under these proposals the top six will be able to sell up to eight games a season abroad, benefit from pay per view matches, have room for an expanded European super League scenario and organise lucrative friendlies, less games with 18 teams works for them as much as it harms others. Liverpool atm can't realistically be relegated anyway tbf but under this new Americanised and closed scenario of six (or nine) teams they'll have zero chance of ever falling to seventh (or tenth).

When you factor in FSG seemingly wanting to amalgamate into a bigger sports hedge fund (for a hugely inflated fee) and you know the Glaziers troubles, you can see this is quite a desperate move from them, and it looks and feels quite desperate.

I do wonder, if to satisfy their investors and for United their stick price if they felt they needed this carving up. Theres also some talk this is the end game of a 3 year process.

It has been pretty roundly condemned and they look very isolated.

The question may be, if the changes dont go through, what then? Will their investors remain interested?

For Liverpool, it also explains the seeming u turn and subsequent spend in the market, by means of needing to hold their position as much as possible through this process.

Again, I think they have probably damaged their brand again. For FSG to lump themselves in with the Glaziers seems pretty dumb.

 

[catcherintherye]

From today's Times.



The EFL rejected a £375 million offer from an American investment firm for a 20 per cent stake in the league that would have helped to solve the clubs’ cash crisis, it can be revealed.
TPG Capital offered the cash as part of an arrangement that was similar to CVC Capital Partners’ deal with Premiership Rugby when it took a 27 per cent stake. It is understood that the EFL turned down the offer on Friday, two days before Rick Parry, its chairman, revealed details of the plan he is involved in, alongside the respective American owners of Liverpool and Manchester United, to revolutionise English football with Project Big Picture.
As part of the deal, TPG — previously known as Texas Pacific Group — would have been able to put in place a management team to handle the EFL’s commercial and broadcasting rights, believing it would have a much better ability to maximise its potential.
It is thought that the offer was not put to the 72 EFL clubs but discussed by the league’s commercial chiefs before being rejected. The EFL declined to comment.
The EFL, which is seeking a £250 million bailout because of the Covid-19 crisis, suffered another significant blow when David Baldwin, the league’s chief executive, quit after less than six months in the position. Baldwin, the 49-year-old former Burnley chief executive, announced his decision to the EFL board yesterday.

The EFL said the decision was not related to Project Big Picture, but it is understood it is partly linked to frustrations around dealing with the Covid-19 crisis as well as personal family issues. He is expected to work out a six-month notice period.
Baldwin, who had been involved in making the case to the government for the safe return of fans, as well as negotiating for a financial support package with the Premier League, saw through a change to the EFL’s rules so that League One and League Two clubs are subject to a salary cap.
In a statement he said: “Clearly, accepting this position pre-Covid-19 means the situation is now very different to the one I envisaged.

Do you have a link?

 

[Simon Buttle]

When you factor in FSG seemingly wanting to amalgamate into a bigger sports hedge fund (for a hugely inflated fee) and you know the Glaziers troubles, you can see this is quite a desperate move from them, and it looks and feels quite desperate.

I do wonder, if to satisfy their investors and for United their stick price if they felt they needed this carving up. Theres also some talk this is the end game of a 3 year process.

It has been pretty roundly condemned and they look very isolated.

The question may be, if the changes dont go through, what then? Will their investors remain interested?

For Liverpool, it also explains the seeming u turn and subsequent spend in the market, by means of needing to hold their position as much as possible through this process.

Again, I think they have probably damaged their brand again. For FSG to lump themselves in with the Glaziers seems pretty dumb.

Apparently the big driving force behind a lot of this is a certain former PL chief exec a Mr R Scudamore who has now linked himself up with Billy Beane the moneyball guy.

 

[Tel001]

I live in Blackpool and had the pleasure of watching Blackpool quite often during Holloways time and also listening to his interviews and quotes. What a character he is. A total nutter but a lovable nutter.

Totally agree, you can see he loves the game

 

[catcherintherye]

Apparently the big driving force behind a lot of this is a certain former PL chief exec a Mr R Scudamore who has now linked himself up with Billy Beane the moneyball guy.

The more of this stuff comes out, the more damaging it looks for them to be honest. All very murky and corrupt.

 

[Yarrgh]

So they're (the BIG 6) getting rid of the majority (14) ruling. And replacing it with 6 of the chosen 9 ruling? Makes no sense.

Oh it makes all too much sense if you're one of the Big 6.

 

[riddick]

The game is better when you have teams like Sheffield Utd and Leicester having a surprise season. Not that Leicester are a surprise any more but what's the point of having the same 6 all the time. The game is starting to get tedious as is, having them dictating who should be in the "elite" group with them would put me right off..

 

[degsy]

Why don’t the top 6 give 20 m each and the other 14 10 m each to the EFL
That’s 260m and the EFL will be happy
Then strike a deal over TV money for EFL clubs
The EL clubs will have to become more realistic with their expenses when crowds return

Because its not about the money, it's about the power to make and re-make the rules, by getting rid of 1 Club 1 vote.
Its about The Shight 6ix...and the 3 Stooges they drag along with them having more voting power than the make weights and yo-yo Clubs.

The 3 Stooges think that they'll be on the inside pissing out. But they forget that while they may be in the 9, the shight 6ix will always out vote the 3 stooges

 

[bazza86]

On a totally cynical note, if these proposed changes eventually lead to the demise of football as a major, fan based sport in Europe/Worldwide then who gains? Up steps the NFL, NBA and MLB to fill the void...........maybe that's why it's called 'Project Big Picture'!!

 

[Chris O'Connor]

Yes I’m Aware, but what a that actually worth to us?

Oh we’ve got the approval, and we’re a special side... all it will take is the 6 of 9 creating a rule suggesting we get no further rights.

We’d never be able to suggest anything, unless it suited them.

There’s stuff in there I like, but the power is ultimately the big alarm there and is the most significant feature.

It’s a huge no from me, regardless of whether we’re part of it.

Yes of course that's entirely the case, but on a factual level we are proposed as a special shareholder, in effect it allows the top six (or even any six of the nine if one of them disagreed) to win any vote affecting all twenty clubs. This leads to all the inevitable control envisaged.

I'm totally opposed to it.

 

[paultheblue]

I have a couple of questions if anyone has the answers
Do the 9 clubs all have an equal vote?
Are they looking for immunity from relegation?
Can the 9 just vote out Usminov taking over at Everton?
I am totally against these rule changes as it is all about greed.
They need 14 votes out off 20 to get it through so you are asking for 5 clubs to vote away there right to have any say in the running of the league why would they do That?

 

[riddick]

Yes of course that's entirely the case, but on a factual level we are proposed as a special shareholder, in effect it allows the top six (or even any six of the nine if one of them disagreed) to win any vote affecting all twenty clubs. This leads to all the inevitable control envisaged.

I'm totally opposed to it.

Yah the other 3 clubs are merely to make it look like they care what anyone else has to say. Those 6 clubs will do what they like regardless of what the other 3 want.