Rachel Hopkins
Main Page: Rachel Hopkins (Labour - Luton South and South Bedfordshire)(1 year, 6 months ago)
Commons ChamberMy hon. Friend is absolutely right. It is important that the independent regulator has access to that real-time information. In preparation for legislation, we are considering exactly what we need to do by learning lessons from other regulators, such as the Financial Conduct Authority, to ensure that the independent regulator has the power to look at the proper figures on owners’ wealth and the source of that wealth. That will give confidence and stability to the whole football pyramid.
I, too, welcome the publication of the White Paper. I agree with Gary Sweet, from Luton Town, that an independent regulator will
“provide all clubs with the fairest opportunity to compete through sporting endeavour whilst operating sustainably, with the inclusion of supporters and influence on their communities.”
I wish to press the Minister on the supporters’ voice element, given the absence of the golden share mechanism. Can he assure me that there will be formal recognition of the supporters in any shadow regulator or regulator, to ensure that licence conditions that affect fans so much can be considered in a formal sense?
I absolutely can give that guarantee. One of the four thresholds to securing a licence to compete within English football will be the fan interest—that will be an important element. Those clubs will have to demonstrate that they are regularly engaging with their fans, and talking about the strategic plans they may have for the club and other important aspects, such as the club heritage. Throughout this, the fans need to be front and centre of everything the regulator is thinking about.