Independent Football Regulator

Lord Londesborough Excerpts

Wednesday 28th October 2026 Lords Chamber

[Baroness Lloyd of Effra (Lab)]

The noble Lord makes a point that I heartily agree with. The State of the Game report underlines the issues with financial stability, governance and the structure, and underlines the need for the Independent Football Regulator to operate and use the powers it has in the three objectives of club financial soundness, working on the systemic financial resilience of the whole football pyramid, and safeguarding club heritage for fans.

[Lord Londesborough (CB)]

My Lords, let me put this £20 million into context. Although we have heard that the top five tiers of the football league generate some £9 billion in annual revenues, almost every club is deep in the red, losing money year after year. As we know, one club, Man City, has been found guilty of 114 financial breaches totalling £900 million over a period of eight years—eight unregulated years. That is the point. Does the Minister agree that the £20 million cost of the new regulator may well be over budget but is hardly excessive?

[Baroness Lloyd of Effra (Lab)]

I absolutely agree with the point that the noble Lord makes. The structure and methodology that the Independent Football Regulator is consulting on puts the burden, as it were, on Premier League clubs with a higher cost. National League clubs will pay much less per season because it is a revenue-based model.