Parachute Payments

Nigel Pearson has referred to our finances and parachute payments. That made me wonder - isn't a parachute payment just part of the financial reward for getting promoted? Promotion is always quoted as being worth ~£120m. I was always of the understanding that this payment wasn't made in full on promotion, but say £60m was paid upfront, with the rest paid later if a team stayed up, or went down - i.e. the "parachute".

It is not a handout, but the payment of the remaining balance? So, if the parachute was scrapped, would this mean a full upfront payout upon promotion? Maybe I'm wrong. But it sounds like sour grapes from other clubs.

Posted By: Wilts, Sep 14, 10:51:10