Parachute payments set for extension

Under the plan, which has to be agreed by the Football League as

part of the solidarity package of payments made to them by the

top-flight clubs, the parachute payments would be made over four

years rather than two. Those clubs relegated to the Championship

this season will receive £16million a year for two years,

while under the new proposals relegated clubs would get

£16million for each of the first two years and then

£8million for each of the second two years. The proposal was

discussed at today’s meeting of Premier League chairmen but no vote

was taken – a final decision will be made at their annual summer

meeting in June once an agreement with the Football League has been

reached. West Ham owner David Gold told Sky Sports: “It also helps

the Football League and indeed all the way down to the lower

divisions. “It’s percentages of the available TV money which is a

standard process and that has traditionally been 50% for the first

two years and now we’ve got an additional 25% for years three and

four, which I think is excellent and I’m delighted. “I think a

total for the four years would probably amount to somewhere in the

region of £48million.” The payments are part of the solidarity

package of money paid to the Football League over the next three

years. The 2007-10 package saw more than £90million handed

over including £5.4million for youth development.