Top clubs should be 'protected at all costs' - Wagner

"I think the top clubs in English football have to be protected at all costs. We can't take too much from the top clubs to support the pyramid. If you have a situation where the top teams are not dominant, I mean internationally, with the very best players and product, then the interest will wane - particularly from the US market which will drive interest and capital flows into football."

"A bill to establish the regulator became law in July and will have backstop powers to force a deal should it not be agreed. The Premier League argues English football can govern itself, stating a regulator will have "unprecedented and untested powers to intervene in the distribution of [its] revenues" and have "a negative impact on competitiveness and investment in world class talent"."

Negotiations continue over sharing Premier League income with the football pyramid while a new independent regulator is established with government-backed powers. A bill became law in July granting backstop authority to force a deal if parties fail to agree. The Premier League contends intervention could create unprecedented powers over revenue distribution and damage competitiveness and investment in world-class talent. Birmingham City owner Tom Wagner says top clubs must be protected and not have too much taken from them, arguing their international dominance and brand value drive interest, capital flows, and growth across the entire pyramid. Birmingham has significant US backing and is a major EFL spender.

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