Kieran Maguire lambasts Karen Brady amid controversial West Ham claim – ‘ ‘she’s sold her soul’
West Ham vice-chairman Karen Brady’s comments about the possible abolition of parachute payments are “oversimplistic”.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about Brady’s remarks in her column for The Sun last Friday (20 January).
Ahead of the introduction of an independent football regulator, Brady claimed that calls to drastically cut parachute payments between the Premier League and Championship “are from people who do not understand football finance.”
Relegated teams are given around £100m over three years to ease their transition back to the EFL under the current structure.
Maguire agrees that parachute payments must remain but queried Brady’s rationale.
“Brady’s comments are oversimplistic,” he told Football Insider’s Adam Williams.
“But then again, that is what you’d expect from someone who has sold their soul to an organisation such as The Sun.
“Parachute payments are clumsy solution to a much broader problem that is the cliff edge between the Premier League and the Championship.
“However, the EFL itself has cliff edges between the Championship and League One but there is very little effort to address those from within the organisation.
“At the same time, those who allocate the abolition of parachute payments don’t understand the difficulties in recruiting players when you are towards the bottom of the table and the target wants a relatively long deal.
“If parachute payments were abolished, you would be looking at pay cuts of 70 to 80 per cent if a side is relegated. That would be unpalatable for many players and would therefore impact the Premier League’s ability to recruit talent.“
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