Biggest shake up to football ownership in years announced in King’s Speech as new regulator’s powers confirmed

FOOTBALL fans were cheering today as a sweeping crackdown on dodgy owners was formally announced in the King’s Speech.

Rishi Sunak confirmed plans for an independent regulator to protect bad proprietors driving clubs into the ground or wrecking their heritage.

A new football regulator will hand more powers to fans

It will also ban teams joining breakaway competitions like the doomed European Super League, and consult supporters on all major changes.

King Charles said: “Legislation will be brought forward to safeguard the future of football clubs for the benefit of communities and fans.”

The proposed footie charter was leaked to The Sun in full last February but fears were growing it was being kicked into the long grass.

But today’s inclusion in the King’s Speech outlines the PM’s hopes to have it in place by the next election.

The regulator will force all clubs to have a licence to play football, which is conditional on them passing stringent criteria.

An Owners’ and Directors’ Test will conduct checks on wannabe buyers to ensure figures with murky sources of wealth like Roman Abramovich are blocked.

A minimum standard of fan engagement will also give supporters a say over the team kit and colours.

The regulator will also be able to raid Premier League coffers and distribute it down to struggling lower leagues if the clubs themselves cannot come to an arrangement.

Chairman of the Northern Research Group of Tory MPs John Stevenson said: “We at the Northern Research Group are absolutely delighted by the inclusion of the Fan Led Review in today’s Kings Speech.

“Football is the lifeblood of so many Northern communities and it is fantastic the Government have listened to our repeated lobbying to made sure that they will bring this legislation forward.

“This is a win for the fan of every football club around the country that doesn’t want to see their club go the same way as others and have dubious owners or directors running their clubs to the ground.”

Last year, Chelsea faced collapse when Abramovich was sanctioned for his links to the Kremlin after Russian leader Vladimir Putin sent his troops to invade Ukraine.

The club was banned from making a profit and only allowed to run a severely limited amount of activities so that it could carry on playing.

Smaller sides like Bury FC have suffered too. They were booted out of their league altogether after owner Steve Dale failed to show proof of funds and a takeover bid imploded.

More than 60 sides have gone bust since the Premier League was founded in 1992.

EFL clubs earn a fraction of the cash clawed by the top-flight competition

In 2019 Huddersfield, who finished bottom in the Premier League and were relegated, received £97million in funds — dwarfing the £8.5million awarded to promoted Championship winners Norwich.