Leeds United could be ready to gain a part of a £925 million windfall after the Premier League convened an emergency meeting to complete a new financial settlement with the EFL, Sky News reports.
The publication announced on its website on February 20 that Premier League clubs will meet next week to work out a settlement that can be offered to the 72 Football League teams.
This agreement will cost Premier League clubs between £837 million and £925 million in contributions to the EFL over the following six years, which Leeds may gain from if they are not promoted.
Leeds United could be destined for a Premier League windfall
This would be a watershed agreement between the English football divisions, with smaller clubs benefiting the most. The money would be distributed among all EFL clubs, and a percentage of the TV contract would reportedly be added to the payouts.
Furthermore, the agreement ensures that the money from EFL broadcast rights will climb in lockstep with the Premier League deal, which reaches new highs practically every year [The Athletic, 25 August] and is the primary source of income for the mega-rich top-tier clubs.
Of course, Leeds would have to be in the Championship when the deal began, which is far from ideal for the club now in second place for automatic promotion.
In fact, if Leeds are promoted within that time, they will most likely be on the opposite end of the contract, paying the EFL rather than receiving the windfall.
Furthermore, the contract has not to be confirmed among Premier League clubs that have rejected it owing to the financial implications, thus the situation remains fluid.
