British Prime Minister Rishi Sunak confirmed plans for an independent football regulator to safeguard the future of English soccer clubs in his King’s Speech on Tuesday.
The Independent Regulator for Football (IREF) will have the power to step in to address cash flow and other systemic issues within clubs, many of which are financially vulnerable.
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“Legislation will be brought forward to safeguard the future of football clubs for the communities and fans,” King Charles said in the speech.
A separate government briefing document said the fragility of the English footballing pyramid had been exposed in recent years.
“The collapse of Bury FC, the devastating impact of the pandemic on clubs, and the botched plan for a breakaway European Super League have all revealed the financial unsustainability of some clubs and the need for more accountability for fans,” it said.