Peter Ridsdale suggests new plan for cash-flow through pyramid, starting with the PL
Former Leeds United chairman Peter Ridsdale has suggested that now is the perfect time for the Premier League and the EFL to sort out their cash-flow problems.
Now part of the Preston North End boardroom, the Leeds villain suggested that more money must be passed through the footballing pyramid.
Ridsdale was credited with starting the downfall of the Whites financially after giving the green light for plenty of expensive moves that weren’t sustainable at the time.
Ridsdale claimed the enforced break because of the coronavirus is the perfect time for that to be adjusted for the start of next season.
“I do think where we’re at at the moment is a real opportunity to try and correct some of the problems with finance within football by seeing some of the cash from the Premier League flowing down the leagues,” he told the BBC.
“Your bottom team in the Premier League can get £96million, and then another £93million in parachute payments over three seasons, whereas teams in the Championship get £7million, teams in League One get £1.5million, and teams in League Two get £1million.
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“That disproportionate flow-through of cash has got to be corrected and there is no better time than now.”
Ridsdale certainly has a point, but it seems quite rich for a man who has been so irresponsible with his finances at clubs in the past.
It would certainly suit Leeds for a more free-flowing system, with the Daily Mail reporting that the Whites are one of the clubs in danger of going bust – something that has been cleared up since by the likes of Angus Kinnear.
In other Leeds United news, Whites chief shares potentially huge Ben White boost, ‘We have already had discussions’