Sofia Quijada
Independent regulator unveils licensing plan for all top-five clubs
The Independent Football Regulator (IFR) has unveiled a licensing regime that would, from 2027-28, require every club across the top five divisions of men’s football in England — a total of 116 clubs — to hold a licence to compete.
Under the proposals clubs would need to submit long-term financial plans, meet a new corporate governance code and consult directly with fans on key matters including business priorities, club heritage and ticket prices. Supporters’ views would have to be taken into account, though they would not be given a veto.
For the first time the regulator says it will assess a club’s full financial picture, placing a strong emphasis on liquidity and the sources of funding clubs rely on. The IFR would be able to stress-test finances and, if necessary, require measures such as increasing cash reserves, controlling costs or reducing debt.
“We are making substantial progress on bringing the Independent Football Regulator regime forward,” said David Kogan, the newly appointed IFR chair. “We will support clubs at every step to reinforce these higher standards.”
The draft rules would also give the IFR powers to cap spending and to demand debt reduction where clubs cannot demonstrate sound financial planning. Clubs would be asked to apply for a provisional licence in the season before the 2027-28 rollout, as part of a staged introduction.
The regulator’s statement added: “The IFR will work with clubs to stress-test their finances, to improve decision-making and ensure long-term resilience.” It warned that should clubs fail to prove reliable planning the watchdog could intervene to manage day-to-day spending.
The licensing measures are now open to consultation for seven weeks. If adopted they will also require clubs to publish reports showing how they are meeting the new code designed to foster better governance, clearer decision-making and improved club management.
Last week Mr Kogan told BBC Sport the watchdog would have the power to force unsuitable owners to sell a club “as a last resort.”
The proposals represent a marked shift in regulatory reach, aiming to curb risky financial behaviour and make club operations more transparent to fans and regulators alike. The consultation will determine the next steps before the regime is finalised.