Preston North End, Leeds United and Cardiff City figure issues stark warning to Premier League

Preston North End executive director Peter Ridsdale says ‘English football is finished’ if the Premier League cannot agree a deal with the English Football League. 

A financial settlement worth an apparent £836m between the EFL and the Premier League has been aborted for the time being after some clubs voiced their discontent. 

The Daily Mail reported that at least 10 clubs opposed the deal and should they be forced into sharing their wealth, they would be willing to explore a legal battle. The UK Government are said to be 'embarrassed' having pushed for a deal to be agreed this week. 

"If we don't keep it competitive and sustainable, then English football is finished,” said Ridsdale in an interview with BBC Radio 5 Live

“There is no disagreement with the EFL clubs - it is with the Premier League clubs as to how much of the money is going to come down and where it is coming from, ie, which of the Premier League clubs are going to give us the money.

"We've made it clear to the Premier League that if they put their proposals into a formal offer, we would recommend acceptance. We're sitting here today and we have not had that offer. Despite the fact we were told it was coming last September."

As part of the agreement, the removal of parachute payments has been suggested. Three of the four teams in the Championship this season were relegated.

Leicester City and Leeds United occupy the automatic promotion spots whilst Southampton are in fourth. If all three teams were to get promoted this season then it would be the first time in the 32-year history of the Premier League that the three relegated teams would return at the first time of asking. 

Risdale added: “All we want is to make sure we have a sustainable and competitive EFL and obviously, you see the cliff edge between the Premier League and the Championship, with the parachute clubs coming down getting something like £50m in the first year and £40m-odd in the second year, having got relegated," Ridsdale said.

"We've got teams at the top of our division paying five times more in wages than we [Preston North End] are, and that's showing because they're at the top end of the Championship - and they're doing that based on parachute payments that are coming down from the Premier League.

"The top three teams are Leicester City, Leeds United and Ipswich, then Southampton are fourth. Three of those four came down last year and have got parachute payments."