By Kieran Maguire

5th May, 2023 | 7:00am

Kieran Maguire: Sunderland to profit from £700m deal as EFL 'huge regret' revealed

Sunderland and their EFL allies are set to profit from a £700million distribution deal with the Premier League.

But finance expert Kieran Maguire exclusively told Football Insider that the EFL will ‘regret’ not sealing a shared deal with the Premier League when the breakaway league was formed in 1992.

As reported by The Athletic, Steve Parish has revealed that the “New Deal for Football” will see the Premier League share more than 20 per cent of its central income with the EFL.

The Premier League earns around £3.5billion from media rights and commercial deals, with 15 per cent of that figure shared throughout the EFL.

The EFL have pushed for an improved deal with the Premier League, and a 20 per cent cut would see £700million flow into the English football pyramid.

Maguire believes a 20 per cent cut is a good compromise for all parties, but added that the EFL will ‘regret’ rejecting the initial offer from the top flight over 30 years ago.

“The EFL will have huge regret over their decision to turn down the opportunity to have a shared television deal with the Premier League when the breakaway competition was set up,” Maguire told Football Insider.

“That deal would have locked them into 25 per cent of a combined deal in 1992, but they were confident they could earn more.

“A 20 per cent share of Premier League revenue is still a significant increase, but a lot would depend on how it is shared out.

“It needs to be decided if a significant proportion is going to continue as parachute payments as they have been very helpful to relegated clubs.

“Overall, a 20 per cent share is probably a good compromise between the Premier League and the EFL.“

In other news, Celtic and Sunderland race to sign Liam Cullen