Ben Everitt, the MP for Milton Keynes North, has welcomed the news from the Conservative Government that for the first time, a new independent regulator for the men’s elite game will be established in law to oversee the financial sustainability of the game and put fans back at the heart of how the game is run.
The regulator will implement a new licensing system from the Premier League to the National League that will require clubs to demonstrate sound financial business models and good corporate governance as part of an application process before being allowed to compete.
Fans will also have a greater say in the strategic running of their clubs. The Regulator will require clubs to comply with the FA on their new rules for heritage which will give fans a veto over changes to the badge and home shirt colours in addition to the strong existing protections for club names. In addition, clubs will have to seek the approval of the regulator for any sale.
There will be new tests for owners and directors, ensuring good custodians of clubs, stronger due diligence on sources of wealth and a requirement for robust financial planning.
The regulator will have a targeted power of last resort to intervene in relation to financial distributions, to deliver a solution if football fails to itself. This will ensure greater financial protection for clubs throughout the entire pyramid.
The regulator will have the power to prevent English clubs from joining new competitions which do not meet the predetermined criteria, in consultation with the FA. This will stop any future attempts at closed shop breakaway competitions like the European Super League.
The local MP recently attended an event in Parliament alongside the Dons to discuss the fan-led review, and has had a number of conversations with the club over the last few months.
Ben Everitt MP said: "MK Dons do wonderful work in the community here in Milton Keynes, and I know they were supportive of the fan-led review so it's fantastic that the Conservative Government has announced a new independent regulator which will help protect local clubs like the Dons.
“This ensure football fans, who are the heart of every football club across this country, will be able to have a say and I know my constituents across Milton Keynes will feel comfort in the knowledge that their club will be protected by the Government’s new regulator.”
Lucy Frazer, Secretary of State for Culture, Media and Sport, added: “Our plans will end the boom and bust culture of football club finances and prevent the risk that club owners treat historic assets as expendable commodities.
“We want to see the incredible success of the domestic game at home and abroad continue.
“But for too long those responsible for running our national game have failed and our reforms will help strengthen the game.”
“With a new independent regulator to check prospective owners, stop unwanted breakaway leagues and protect clubs’ heritage, we are now calling time on mismanagement which has left too many fans facing the loss of the club’s that they love”.