WANDERERS have welcomed the news that the Football Governance Bill has been introduced to UK parliament.

The introduction of an independent football regulator at government is expected to be complete by the end of this year, with authorities hailing it as an “important milestone” in the financial security of the game.

The regulator will be given powers to force through a funding agreement between the Premier League and EFL if one cannot be reached independently, along with stronger influence to penalise or even remove owners who fall short of regulations.

The new bill has cross-party support, so will not be changed regardless of the outcome of a General Election, and EFL chairman Rick Parry believes it can help “fix football’s broken financial model.”

Bolton Wanderers chief executive Neil Hart issued a statement backing the bill.

He said: “On behalf of our Chair Sharon Brittan, Board of Directors and shareholders, players, staff, stakeholders, Supporters’ Trust, all fans of Bolton Wanderers Football Club and our entire community we offer our full support to the arrival of today’s Football Governance Bill.

“As we continue to make significant progress with our fan engagement strategy, this Bill reflects our firm belief that supporters should be at the heart of decision-making.

“We thank the MP for Bolton West and Atherton, Chris Green, as well The Rt. Hon Baroness Ann Taylor for their ongoing support.

“Bolton Wanderers will continue to support the EFL and Government officials in championing financial fairness, as well as the introduction of the Independent Football Regulator to ensure the long-term stability and success of our national game.”

EFL chief Parry added: “The EFL welcomes today’s arrival of the Football Governance Bill to Parliament in what we hope will be an important milestone to help us secure the long-term financial sustainability of England’s football pyramid.

“If delivered on the right terms, this landmark legislation can help fix the game’s broken financial model by offering the independent input ultimately needed to help ensure that all Clubs can survive and thrive in a fair and competitive environment.

“The establishment of the Independent Football Regulator will be at the heart of this reform, and we are encouraged that the Regulator will be given backstop powers to deliver financial redistributions should the game be unable to agree a deal itself.

“In recent years, we have been working with Government and across Parliament on cross-party basis. It is clear there is an appreciation of just how important professional Clubs are to their communities and why they must be protected.

"We are pleased that the Government has stated its commitment to the State of the Game Review which will provide the basis for the Independent Regulator’s work in making the game financially sustainable.

“The League looks forward to contributing to that Review while simultaneously working with EFL Clubs, Parliamentarians, and officials to ensure that the Football Governance Bill is fit for purpose and can deliver the best regulatory regime to safeguard our game for generations.”