Manchester United Plc's (Manchester United Plc (NYSE:MANU)) new buyer and other future owners of football teams in the UK could face increased scrutiny in the way they interact and run clubs, an annual report from Norton Rose Fullbright (NRF) found.
Outlining plans to reform the way football is governed, the Department for Culture, Media and Sport’s launched a white paper in February 2023, establishing the introduction of a new independent regulator.
Expected to have “major implications” for clubs across Britain, the exact responsibilities are yet to be decided, but the global law firm reckons it will mean new owners will be “assessed to determine their fitness and propriety”.
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Stephen Rigby, head of sports law at NRF, said: “We are starting to enter into a new era in UK football, which will be dominated by the tension between an attempt to create independent regulation on the one hand, and the other hand, the desires of the owners of the Premier League clubs to continue… to be controlled and run in the way it has been since its inception.”
Clubs will also be expected to “implement of a culture of accountability” and provide more “formal” arrangements for the responsibilities of board members and executive directors at football clubs, NRF believes.
Sanctions, fines and other financial penalties may also be at the disposal of an independent regulator and could result in the worst offenders ending up with bans from specific competitions.
“If done properly, independent regulation could help to support the long-term sustainability of the sport and prove beneficial to both clubs and fans,” Rigby concluded.