Sources: Newcastle United clashing with ‘Big Six’ amid behind-the-scenes finance talks
Newcastle United are among the Premier League clubs at odds with the so-called ‘Big Six’ over parachute payments, sources have told Football Insider.
Talks are continuing between the Premier League, Football League and FA over the future of the English pyramid’s financial distribution model.
The imminent release of a policy proposal for an independent football regulator has lit a fire under the three parties’ efforts to agree a new deal before the government is forced to step in.
The Football League wants parachute payments scrapped and a 25 per cent cut of annual Premier League broadcast revenue, a nine per cent upswing on their current solidarity-payment takings.
A source with knowledge of the talks has told Football Insider that the other 14 top-flight clubs remain opposed to the abolition of parachute payments, while the Big Six are open to their removal.
Some will be surprised by Newcastle’s decision to position themselves against the Big Six given that they have no immediate fears of relegation and are expected to establish themselves as a Premier League powerhouse in the coming years.
The Magpies have also tended to side with the Big Six at shareholder meetings since their takeover by the Saudi Public Investment Fund.
That signposting of their aspirations has led some analysts to suggest they could form a voting bloc with the elite clubs, with the votes of seven clubs needed to veto new proposals.
Premier League chief executive Richard Masters has previously claimed that it would be a “disaster” to give away 25 per cent of its broadcast cash.
The EFL meanwhile argues that it needs more money to remain sustainable as annual financial losses are now routine for the bulk of its clubs, particularly in the Championship.
Chairman Rick Parry has long evangelised for the eradication of parachute payments in tandem with a greater cut of Premier League riches, which he believes would enhance competitive balance in the second tier.
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