Member

If any of the regulator’s actions in any way damaged or hindered the ability of clubs to invest or to attract investment, the Bill would not have succeeded in its purpose to promote financial sustainability. This is particularly important with regard to the owners’ and directors’ tests. As noble Lords have pointed out before in this Committee, a new owner can bring huge opportunities to a club—the example of Brighton & Hove Albion has been used extensively—and can completely transform its prospects. These new objectives therefore seek to act as a warning of sorts—a warning to the regulator not to choke off investment or to damage the future of the game. Without an amendment such as this, I worry that the regulator could focus solely on regulating the finances of football clubs without regard to the risks required for them to succeed.