Bill to create football regulator supported by Banbury MP
Plans to establish an independent football regulator have been backed by Banbury's MP, who said it will "protect clubs, empower fans, and keep clubs at the heart of our communities".
Labour MP Sean Woodcock has given his support to the Football Governance Bill, which reached its second reading on April 28.
The bill aims to fulfil Labour's manifesto commitment to create an independent football regulator and introduce new rules to safeguard clubs and empower fans.
The regulator will have powers to intervene in financial distributions as a last resort and compel clubs to democratically select fan representatives that the club must engage with.
A new owners' and directors' test will be introduced to ensure club custodians are suitable and finances are sustainable.
The bill will also introduce targeted financial sustainability regulation, set a minimum standard of fan engagement, and prevent English clubs from joining leagues that do not have fan support.
A new corporate governance code specific to football clubs will be established, and there will be a commitment to improving equality, diversity, and inclusion within the game.
The bill aims to tackle rogue owners and directors, implement a club licensing regime, monitor club finances, and improve fan engagement throughout the football pyramid.
Mr Woodcock said: "I welcome that the Labour Government have reintroduced a strengthened Football Governance Bill, delivering on Labour's manifesto commitment to establish the independent football regulator and a new set of rules to protect clubs, empower fans, and keep clubs at the heart of our communities.
Sean Woodcock (Image: Other.) "For Banbury, I am sure that this bill will provide reassurance to fans.
"Clubs like Banbury United are at the heart of our community and social inheritance, passed down through generations.
"I am pleased that these clubs' future legacy will now be protected by this Labour Government."
The bill comes following the attempted breakaway European Super League, and several high-profile cases of clubs being financially mismanaged.
Since 1992, more than 60 clubs have gone into administration.
Culture Secretary Lisa Nandy said: "English football is one of our greatest exports and a source of national pride which this government wants to see thrive for generations to come.
"But for too long, financial instability has meant loyal fans and whole communities have risked losing their cherished clubs as a result of mismanagement and reckless spending.
"This bill seeks to properly redress the balance, putting fans back at the heart of the game, taking on rogue owners and crucially helping to put clubs up and down the country on a sound financial footing."
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