Arsenal, Chelsea, and Tottenham are getting ready for a significant £836 million Premier League vote while waiting for the Financial Fair Play (FFP) decision.

The Premier League is facing a challenging deadline and two significant matters to conclude a groundbreaking £836m agreement. The league’s executives are currently in a critical period to finalize a significant £836 million financial arrangement, which requires the approval of at least 14 clubs. The future of English football is eagerly awaiting the outcome of these negotiations.

According to Sky News, on Monday, March 11, all teams in the top division of English football, including Arsenal, Chelsea, and Tottenham, will be requested to provide their consent for an updated version of a ‘New Deal’. This occurs after additional financial dispute, which includes Everton’s points deduction and charges against Manchester City and Nottingham Forest.

Prior to the implementation of legislation to establish the inaugural governing body for English football, the Premier League is expediting the finalization of the agreement pertaining to financial support and expenditure management. Several prior iterations have been rejected, but there is optimism that the most recent version will be presented at the May Premier League shareholder meeting and thereafter forwarded to the English Football League (EFL).

The proposed ‘New Deal’, in conjunction with the EFL, will recommend an increased tax on player transactions. In light of the rejection of previous proposals, the latest proposal entails an immediate payment of £44m to the lower leagues, with an additional £44m to be disbursed within a few months.

The total sum of £88 million would need to be repaid by the EFL within a span of six years. Nevertheless, there are apprehensions that the resolution may not be ratified due to the requirement of 14 clubs for approval, and it has been reported by the Manchester Evening News that two clubs have already expressed their opposition to the agreement.

Furthermore, it is said that the Premier League’s vote has been conducted without any requirements related to broader financial reform. This has raised concerns among several owners of top-tier clubs. The vote scheduled for Monday is anticipated to be the last legislative action taken prior to the publication of the Football Governance Bill, which will result in the establishment of an independent regulatory body.