Middlesbrough receive warning after Steve Gibson handed £1.5bn proposal

Middlesbrough and EFL clubs have received a Premier League proposal offering over £1.5 billion in solidarity funding over the next decade. However, clubs have been warned that invoking the Independent Football Regulator's backstop powers could result in a one to two-year delay for a financial settlement.

The proposed deal includes a five percent cut to parachute payments over six years and a requirement to ring-fence 15 percent of funds for infrastructure. EFL clubs, including Middlesbrough owner Steve Gibson, are scheduled to hold further discussions on the proposal over the next two weeks.