Kevin Phillips insists Sunderland should receive a portion of Norwich and Watford’s Premier League parachute payments.
The Black Cats legend, speaking exclusively to Football Insider, claimed there is already enough money in the top flight.
The Telegraph are reporting that the EFL have asked for a portion of the payments due to Norwich and Watford for achieving automatic promotion.
The two sides are reportedly due £83million in a season where many clubs are facing uncertain futures due to the pandemic.
No matchday revenue has left some clubs fearing for their futures and Phillips wants to see those clubs given a helping hand by the Premier League.
He insists this £83million payment needs to be evenly distributed throughout the EFL as there is already enough money in the top flight.
“There’s enough money in the Premier League,” Phillips told Football Insider correspondent Dylan Childs.
“I know the EFL got a fair bit of money from various places to help with COVID but that’s not enough.
“It [parachute payments] should be spread throughout the EFL. There are teams that need it. It’s a way of generating some money for clubs that might go out of business.
“That could be a sensible way of distributing money to the clubs in League One and Two. Especially for the ones who might go out of business.”
Sunderland have missed out on League One’s automatic promotion places but remain in the playoffs.
The Black Cats are looking to make it back to the Championship at the third attempt.