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EXCLUSIVE: Premier League and EFL resume talks on financial agreements 24 hours after the Government published their White Paper as Rick Parry reaffirms the Football League's desire for change NOW

Talks between the Premier League and English Football League resumed on Friday, just a day after the Government announced its plans for a football regulator which will have the powers to enforce a new financial settlement on the football leagues if they cannot agree one themselves.

The EFL have long argued the current system, whereby relegated clubs are awarded parachute payments of around £45million, distorts competition in the Championship, weighting it massively in favour of the relegated clubs.

The Premier League have so far resisted change though there were tri-partite talks earlier in the season between the Premier League, FA and the EFL and another round is now about to be scheduled.