King’s Speech outlines drive to improve football governance
King Charles III has announced that a Football Governance Bill will “safeguard the future of clubs for the benefit of communities and fans”.
His comments were made in the first King’s Speech in 72 years at the State Opening of Parliament.
A new independent football regulator is set to be created by legislation and will aim to ensure the financial sustainability of clubs.
In February, the UK Government announced plans for a regulator to be appointed.
It followed a fan-led review, chaired by former Sports Minister Tracey Crouch.
Explaining the Football Governance Bill, the government said: “Across the Premier League and Championship combined, net debt increased to £4.4billion in 2022. This shows that many clubs across the pyramid are financially vulnerable.
“The unique importance of football clubs to their fans and local communities means the social costs of financial failures would be significant.
“The introduction of an independent football regulator will help to promote and secure the financial sustainability of clubs and reduce the likelihood of financial collapse.”
The regulator will, according to the government, “have powers to monitor and enforce compliance with requirements in financial regulation; corporate governance; club ownership (owners’ and directors’ tests); fan engagement and club heritage protection; and approved competitions”.