Kieran Maguire: Sunderland ‘beg for money’ after deal collapses
Sunderland and other EFL clubs have been made to ‘beg for money’ after the Premier League’s ‘New Deal’ collapsed.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that EFL clubs have had to ask shareholders for additional funds after the Premier League halted the ‘New Deal’ distribution.
As reported by Sky News, the Premier League have halted talks over a deal that would have provided £881m in funding to the EFL.
The agreement was set to include an £88million upfront payment provided by Premier League clubs.
However, delays to the agreement have left several EFL clubs with huge operating losses for the remainder of the 2023-24 season.
Maguire believes little progress will be made to the ‘New Deal’ in the coming weeks as there is no incentive for Premier League clubs to provide payment.
“We have seen at EFL clubs in the course of the last couple of weeks that many of them have had to go to shareholders and beg for more money after the failure of the New Deal,” Maguire told Football Insider’s Sean Fisher.
“The Premier League has failed to honour the £88million that was originally promised as part of the New Deal.
“However little progress has been made and clubs seem to have little incentive to progress it in the Premier League shareholders’ meeting in February.“
In other news, £20m-valued Sunderland star set to quit this month as West Ham swoop
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