By Kieran Maguire

4th Dec, 2021 | 7:00pm

Kieran Maguire: West Brom could be hit by 'huge' £34m+ blow after secret talks

West Brom could be significantly worse off if the Premier League and Football League move to abolish parachute payments.

So says finance guru Kieran Maguire, speaking exclusively to Football Insider about the importance of parachute payments for Albion.

The Guardian reported on Monday (29 November) that executives from the top-flight and EFL have held clandestine talks to scrap parachute payments.

The news comes after Tracey Crouch MP’s fan-led investigation recommended that an independent regulator review the parachute system.

Official figures show that West Brom earned £34.2million in parachute payments in their last season in the Championship.

Maguire claims that to snatch that money away would have a domino effect and widen the gap between the financial elite and the chasing pack.

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“This would be a huge blow,” he told Football Insider correspondent Adam Williams.

“It would make staying in the top-fight following promotions far more difficult.

“We already see relegated clubs having reductions in their wage bill of around 40 per cent.

“The exception is if they go straight back up, they have such big promotion bonuses so it goes back up.

“But to abolish parachute payments would mean you have to have wage reduction clauses of around 80 per cent.

“That is so unattractive to players that it would make it very difficult for West Brom to recruit players upon promotion to have a chance of staying up.

“So this is actually likely to increase the yo-yo effect.

“Parachute payments are not the problem. The problem is the cliff face between the two leagues.

“Parachute payments are an inelegant solution to the fears of clubs going into administration following relegation. They’ve been successful in that regard.”

West Brom have been promoted to the Premier League five times since the turn of the century.

They are eyeing promotion again this season and are currently 4th in the Championship table after 20 matches.

In other news, Kevin Campbell suggests Robert Snodgrass may quit West Brom after Valerien Ismael bust-up reported.