Member

Parachute payments are vital. They are not a distortion; they are a stabiliser. They are not a luxury; they are a necessity. As I said to the noble Baroness, if they did not exist, you would have to invent them. To give any newly promoted Championship side a chance to stay in the Premier League, parachute payments have to be there. To give any established Premier League club a chance to be financially viable on relegation, parachute payments have to stay there. The backstop as currently designed places them at serious risk.