Relegation from the Premier League will bring a £60 million cut in revenue with the shock felt in the first year, financial analysts have warned.
And in addition, the money gap between the Championship and top flight is set to grow even wider with the increased value of overseas broadcasting rights, making it harder to bridge the divide.
Dr Dan Plumley, a lecturer in sports business at Sheffield Hallam University, said relegated clubs would lose £100M in income from the Premier League in their first season in the EFL. And while this would be cushioned by a parachute payment, it would only be around £40M.