Grimsby Town's chairman says football regulator could help lower league clubs survive
Jason Stockwood has been speaking about smaller club's finances
With many lower league football clubs struggling to stay afloat, Grimsby Town's chairman says it's vital an independent football regulator is appointed to help their survival.
The Government's currently looking at bringing in such a position along with new regulation.
Jason Stockwood says the richer clubs in the Premier League need to do more to help teams in the EFL because they're a key part of the community .
He said:
"Football clubs are unique - they're not the traditional businesses - they don't have the same profit motive bizarrely as other businesses.
"But actually they mean more to communities that they're routed in - and actually this is why they should be treated differently.
"This is why regulation is absolutely critical."
Mr Stockwood continues:
"If the football club goes bust it's not just a business that will reform and go in a different way it's really about the identity of a town.
"It's absolutely critical the football governance bill sorts out the finances and looks at the egregious gap in wealth that's been created - remembering that wealth has been created off the backs of all the football clubs up and down the pyramid.
"The opportunity to create financial sustainability and sustainability for all clubs is the absolutely critical bit.
"The closest reading of it is part 6 - needs adjusting which is about how that mechanism to make sure the distribution from the premier league is sufficient that we can fulfil that aim of sustainability over the coming years."
The Football Governance Bill, which has the creation of an independent regulator at its heart, had its second reading in Parliament on Tuesday.