L

Lord Goddard of Stockport (LD)

Speaking in the House of Lords on 9 December 2024

Debate

Football Governance Bill [HL]

Contribution

On the noble Lord’s point, can he explain to me what happened to the banks when the financial crash came and they ran out of money, or the money was disappearing? Who stepped up then and financed all the banks? The Government did. That was an example of rebalancing and ensuring that the money supply could keep going throughout—that is why they did it. This Bill will ensure that the rest of the pyramid can survive and carry on. One document I read today says that in 2022-23, “20 members of the Premier League and five … in the EFL … received 92% of the distributable” wealth—£3 billion—while “the other 67 professional clubs” got £245 million. Is that fair?

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