English women’s clubs receive $25m loan from Premier League

As part of an agreement to hasten the commercial growth of elite women’s soccer, the Premier League will invest $25.2 million into the sport.

During a meeting on February 7, clubs from the top two levels of English women’s soccer authorized the funding. They also discussed a comparable debt plan in line with the Football Association (FA).

Starting from the 2024-25 season, a new independent company called “NewCo” will oversee the WSL and the Championship. In addition, the Premier League has agreed to lend them $126 million without interest.

It won’t be repayable until yearly income hits $126 million. As NewCo launches, Sky Sports reports that they will allocate the funds to various purposes. NewCo will now oversee the English women’s professional soccer leagues, the WSL, and the Championship.

The FA has been in charge of it ever since those leagues adopted their present structure in 2010. They founded the Premier League independently at the beginning of the 1992-93 season to maximize revenue.

Why are the Premier League giving English women’s clubs money?

The Premier League’s clubs would “have a seat on the board and provide a whole bunch of services to the game,” according to Premier League chief executive Richard Masters. He also recently spoke before a select committee on the loan and other league-related matters, such as how to financially promote the WSL.

“It still has to be approved by the WSL board, but I hope that is the start of a relationship and the men’s game can help the women’s game in a whole raft of different area”, he said.

There seemed to be some uncertainty about the new business structure for English domestic women’s soccer. In November, most of the Championship teams decided against the planned finance and leadership structure.

They then quickly reversed their course. There have been reports that second-tier teams are currently in a strong position to collect 25 percent of the commercial…

Source link : https://worldsoccertalk.com/news/english-womens-clubs-receive-25m-loan-from-premier-league-20240210-WST-488903.html

Author : Martina Alcheva

Publish date : 2024-02-10 18:17:04

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