Member

Given the commercial success of English football, it is inevitable that deciding on the distribution of revenue will be difficult and complex. There are many factors that are relevant to this decision, and, generally, they are interrelated. It is not easy to simply state one or two factors upon which decisions can be taken. Clearly, the distribution should protect the overall financial soundness of clubs. Much of that task of maintaining financial stability is down to the risk appetite of the clubs themselves, taking account of their access to capital. It is right that well-managed clubs should prosper. The likelihood of financial failure increases when organisations take excessive risks, and I welcome the emphasis in the Bill on prudential management.