West Brom ‘overspending’ claim made by Maguire amid £243m revelation

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West Brom could have future parachute payments reduced as the EFL try to stop chronic ‘overspending’ in the Championship – but the move is unlikely to be successful.

That’s the view of finance guru Kieran Maguire, speaking exclusively to Football Insider on how the so-called ‘new contract’ for English football could affect recently relegated teams like the Baggies.

The Times reported on Tuesday (July 26) that the Premier League and EFL are close to reaching an agreement to overhaul the Solidarity Payments system.

It is understood that parachute payments are set to be reduced, with money instead being diverted to merit-based payments for Championship teams.

New, as yet unspecified spending controls are also to be introduced.

The Premier League paid out £243million in parachute payments in 2017-18, the last time it officially disclosed its financial data.

Albion is now in its second year of parachute payments after falling out of the top flight in 2020-21.

Maguire claims the new system will take money out of the pockets of relegated teams without achieving its goals.

He said Football Insiders Adam Williams: “Is it going to stop spending too much in the Championship? It’s unlikely.

“If we go back to 2014 and 2017, when the Premier League had new TV deals, both significantly increased solidarity payments in the EFL, but that only trickled down to wages.

“So we’ll wait and see, but I wouldn’t take the bunting out yet.

They will try to tie it to some form of wage controls. But they will also have the added difficulty of involving the PFA as well.

In other news, MK Dons, Cheltenham and Crewe Alexandra are racing to sign rising West Brom star Ethan Ingram.

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