Clubs in the EFL Championship have voted in favour of changes to the division’s Profit & Sustainability (P&S) Rules, set to take effect from the 2025/26 season. The decision, made at an Extraordinary General Meeting (EGM) on 30 April, is part of a wider effort to better manage the financial transition of clubs moving between the Championship and the Premier League.
Under the revised system, clubs will still be required to submit their estimated P&S figures each March. These estimates must cover the current season and the two previous campaigns, regardless of whether the club was competing in the EFL or Premier League during that time.
This ensures financial continuity and transparency across tiers, especially for clubs that have been recently promoted or relegated.
As a result of the changes agreed today, from the 2025/26 season:
- The Club will then file its audited accounts and a final P&S calculation with whichever League it is in at that time in the following December.
- The EFL will be able to apply a sanction imposed by the Premier League’s independent Commission, with an equivalent provision included in the Premier League’s rules, should it be required.
- When the EFL receives the estimated P&S calculation in March, it can still take pre-emptive action if a Club is forecasting a breach, which can be in the form of a business plan or requiring player sales once the transfer window opens in June.
Meanwhile, Championship clubs continue discussions on a potential Squad Cost Ratio model. This would see clubs restricted to spending a fixed percentage of their income on player wages and related costs, a concept already being trialled in the Premier League through a shadow system. If adopted, it could become a key part of financial governance in the EFL from 2025/26 onwards.
The changes are part of a broader review aimed at strengthening financial responsibility, sustainability, and fair competition across the division.