A few minutes every morning is all you need.
Stay up to date on the world's Headlines and Human Stories. It's fun, it's factual, it's fluff-free.
The backstory: Remember the big fuss around the proposed European Super League in 2021? Basically, this would have set apart 15 "Founding Clubs" from the UK, Spain and Italy into their own breakaway competition, with only five spots to enter each year on merit. One UK official described it as "the sporting equivalent of a billionaire's gated community."
Well, the idea caused quite an uproar. Six major English teams that had initially signed up backed out after widespread backlash. The proposal prompted the UK government to review football regulations in the UK.
More recently: Later that year, the majority acquisition of Newcastle United by Saudi Arabia sparked controversy and accusations of "sportswashing" by Amnesty International. This raised concerns about the ownership of UK football clubs and the need for proper regulation.
The development: Now, an independent regulator is on the way to ensure the financial sustainability of all football clubs, from the Premier League to the National League. New regulations will include a licensing system to ensure proper corporate governance and sound business models and give fans a say in significant changes to club names, badges and uniforms. Plus, any stadium sale or change will require regulatory approval.
UK Prime Minister Rishi Sunak recognized the importance of football in bringing people together and inspiring communities, and he said this new regulation would help protect the sport. Sports Minister Stuart Andrew said the regulators would ensure that investors have the club's best interests at heart and proper finances in place. The UK is also reviewing the visa system for elite footballers to support domestic player development while still attracting global talent.
"Despite the success of the sport both at home and abroad, we know that there are real challenges which threaten the stability of clubs both big and small," said Prime Minister Rishi Sunak in a statement last Wednesday.
"It is vital that regulation does not damage the game fans love to watch in the deepest professional pyramid in the world, or its ability to attract investment and grow interest in our game," said the Premier League in a statement last Wednesday.
"Clubs may argue that regulations applying restrictions on their ability to acquire leading talent will impact the position of the league as the most attractive competition with the highest quality of players," said Daniel Harraghy, senior analyst at Ampere Analysis, to CNBC.