Football Governance Bill
(asked on 22nd October 2024) - View Source
Question to the Department for Digital, Culture, Media & Sport:
To ask the Secretary of State for Culture, Media and Sport, if she will take steps to include provisions on banning leveraged buyouts of football clubs in the Football Governance Bill.
Answered by
Stephanie Peacock
Parliamentary Under Secretary of State (Department for Culture, Media and Sport)
The Football Governance Bill was introduced to Parliament on 24 October 2024. The Bill delivers on our manifesto commitment to establish the independent football regulator and a new set of rules to protect clubs, empower fans and keep clubs at the heart of their communities.
As part of the test for prospective new club owners, they will have to provide the Regulator with evidence they have sufficient financial resources to acquire a club. The Regulator will not approve a takeover if the acquiring party does not have sufficient funds and an appropriate plan to finance a club.