Overview

• All 116 clubs in the Premier League, EFL and National League step one would need an IFR licence to compete from 2027–28, with provisional applications due in 2026–27 and a full window scheduled for November 2026 to February 2027.
• The consultation proposes tools to cap spending, limit debt and require escrow or minimum liquidity buffers, with heightened in‑season reporting for higher‑risk clubs.
• Provisional licence applications must include an ultimate ownership declaration, a strategic business plan, a financial plan, a corporate governance statement and evidence of regular fan engagement.
• Sanctions would escalate for non‑compliance, including last‑resort powers to force owner divestment and the possibility of unlicensed clubs being prevented from playing.
• A pilot is expected next summer and a seven‑week consultation is now open, following the appointments of chair David Kogan and chief executive Richard Monks.