Football Regulator Rejects Claims That Oversight Deters Club Investment
The chair of the Independent Football Regulator (IFR) has firmly dismissed concerns that increased financial scrutiny of English football clubs will discourage potential investors. David Kogan, speaking at the FT Business of Football Summit, asserted that the regulator's mission to enhance sustainability across the English football pyramid actually makes clubs more desirable assets.
Regulation Viewed as Investment Opportunity, Not Barrier
Kogan, a former media rights consultant, stated that the IFR's role in monitoring club finances is designed to foster stability rather than create red tape. He emphasized that the notion that regulation inherently deters investment is unfounded and lacks evidence. "The idea we do not welcome investment in English football and we don't welcome active investors with clear visions for clubs is absurd," Kogan declared. He added, "I have seen absolutely no evidence to date that investors are being put off by the creation of the IFR."
Kogan further explained that the IFR's objective is to solidify the financial foundation of the entire pyramid, which he believes presents a positive investment landscape. "It is absolutely our clear intention to make the pyramid more sustainable and more solid. My view is that's a good investment opportunity, not a bad investment opportunity," he said. He labeled arguments linking regulation to reduced investor interest as "simply nonsense and unproven."
Urgent Call for Football Leagues to Unite on Financial Redistribution
In addition to addressing investment concerns, Kogan issued a pressing appeal for the Premier League, English Football League (EFL), and National League to resolve their differences and establish a new financial redistribution model. He warned that "the clock is ticking" and highlighted the IFR's statutory authority to enforce an agreement if necessary.
Kogan criticized the current reliance on a rolling deal from 2019, describing it as unsatisfactory and unsustainable. "A deal done in 2019 that simply relies on rolling over year by year to no one's satisfaction is not sensible practice, and it will lead to unsustainable levels of pressure within the system," he noted. He argued that this situation creates uncertainty harmful to the pyramid's growth and stability.
He urged top clubs to recognize the long-term benefits of supporting lower leagues. "Clubs enjoying good times at the top surely see that any money passed down through the leagues is an investment which they themselves will benefit from," Kogan said. He stressed the necessity for unity: "The pyramid needs to survive as it exists today, and to do that, English football must come together and end this uncertainty, and it needs to do it now."
IFR Awaits State of the Game Review Before Defining New Deal
Kogan clarified that the IFR has not yet formed a specific stance on what a new financial agreement should entail. The regulator plans to publish its State of the Game review later this year, which will inform its position. "At this stage, the IFR does not have a view on what a solution might look like," he stated.
He acknowledged the complexity of the issue, noting that if a simple solution existed, league CEOs would have already found it. However, Kogan pointed out a key difference: the IFR's regulatory powers now provide a mechanism for intervention. "Any of those leagues can ask us to activate the backstop, and ultimately we can step in and find a solution," he explained, underscoring the regulator's role in ensuring progress.
