Premier League clubs to land unexpected £83m windfall
Norwich City and Watford’s promotion back to the Premier League at the first time of asking is good news not just for fans of their clubs but also the other sides in the top flight.
When sides are relegated from the Premier League, they receive parachute payments which are paid out over the course of three years.
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But with Norwich and Watford securing automatic promotion at the first time of asking, they will not receive their payments next year.
And football finance expert Kieran Maguire has explained that each club will now receive a slice of the £83m which would have otherwise gone the way of Norwich and Watford.
And the Premier League sides could still land more if Bournemouth go up via the play-offs.
Source: Football News – Sporting Life
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