Likes of Portsmouth to gain improved parachute payments of almost £50M

Submitted by tribalfootball.com on Sun, 03/14/2010 - 07:24

Relegated Premiership clubs will be handed a stunning £50 million over four years to cope with the drop, it has been revealed.

The Sunday Mirror says the Premier League is set to announce a bumper pay day for relegated clubs and their Championship rivals.

At the moment relegated clubs receive two payments linked to TV revenue which amount to about £16million a season.

Under the new scheme the relegated clubs will receive payments in the third and fourth years after their relegation.

These will amount to around £8m per season.

So Portsmouth, the first top flight club to go into administration, will be guaranteed almost £50m over the next four seasons.

All 20 Premier League clubs have voted in favour of the new structure, which now has to be formally ratified by the Football League.

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