League One shareholders unconvinced by tightened owner-funding rules
IMAGO | During his tenure as majority shareholder of Plymouth Argyle, Simon Hallett has shifted from a “let people do what the hell they like” mindset to calling for tighter regulations to limit dependence on owner funding.
The Recap
League One is introducing amended and tighter financial regulations aimed at reducing shareholder funding, but multiple owners do not see them as a long-term solution.
Data Insight
Between 2021/22 and 2024/25, shareholder loans more than tripled to surpass £600 million.
Why It Matters
Growing reliance on shareholders to cover increasing losses leaves clubs and owners exposed. But tighter regulation could harm competitiveness.
The Perspective
Rising owner funding remains a challenge across several European leagues, making the choice of regulatory framework increasingly important.
1 July 2026 - 6:00 PM
With the calendar officially turning to the 2026/27 season, clubs across England are adjusting budgets and recruitment plans to comply with changes to the financial regulatory framework introduced across the top three divisions.
In May, League One clubs agreed to tighten the Salary Cost Management Protocol (SCMP) regulations, which have been in place since 2011/12, with one of the main aims being to reduce reliance on shareholder funding.
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