Prem clubs face government fines of more than £50m as tough new rules are introduced

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PREM giants face fines of more than £50m if they fail to get in touch with the government’s new independent football regulator.

The long-awaited measure will be introduced in the House of Commons on Tuesday and is expected to receive cross-party support.

The government is about to appoint an independent football regulatorCredit: Getty

Clubs may risk huge fines if they do not cooperate with the regulatorCredit: Rex

Under its powers, the regulator will be able to impose a funding deal between the Prem and the EFL after the process stalled again last week, stop and eliminate rogue owners and prevent clubs from joining a breakaway from the Super League.

But the regulator will also have “the ability to fine clubs up to 10 percent of their turnover for non-compliance”

Meaning potential ENORMOUS fines, with the Big Six racking up more than £500m every year.

Tory MPs said the regulator would prevent repeats of the financial chaos that overtook Bury, Derby, Wigan, Bolton and non-league Rhyl in recent seasons.

Mid-Derbyshire MP Pauline Latham said: “The Regulator is a new dawn for fans of the beautiful game.

“I’m so proud that we were able to save Derby County, but many other clubs are not so lucky.

“And I don’t want other fans to have to face what we did.

“The government has listened and is taking strong action to give football fans a voice.”

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Tory MP Pauline Latham is one "is a new dawn" for footie fans — Tory MP Pauline Latham is a “new dawn” for footie fansCredit: RICHARD TOWNSHED PHOTOGRAPHY

In a brief response, Prem leaders said they agree that it is “critical that football clubs are sustainable, remain at the heart of their communities and that fans are fundamental to the game”.

However, the Prem warned of the “unintended consequences of legislation that could weaken the competitiveness and appeal of English football”.

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In contrast, EFL chief executive Rick Parry hailed an “important milestone to help us secure the long-term financial sustainability” of the pyramid.

Parry added: “If implemented on the right terms, this landmark legislation could help fix the game’s broken financial model and ensure all clubs can survive and thrive in a fair and competitive environment.”