Deal done, but the reaction is far from unanimous

The Premier League's 20 clubs have unanimously voted to send £1.5billion to the EFL over the next decade, a move that one former City adviser describes as both essential and long overdue. Former Manchester City financial adviser Stefan Borson told Football Insider that the time needed to agree the deal is simply "amazing".

It will become a record investment into the wider game.

City, Arsenal and Chelsea are understood to be the biggest contributors, thanks to an increased transfer levy. The division's highest earners would have to pay the most under the proposed redistribution formula, rather than every club paying the same.

Borson: 'Essential' but 'pretty amazing' it took this long

Borson did not hold back when discussing the significance of the agreement. He told Football Insider: "It's essential, first of all. Without it, the whole thing is largely unviable, aside from owner funding. So it's essential and it's essential for the Premier League as well."

He added: "The IFR, the independent regulator, will impose something if they don't agree on something very soon. Everybody needs it to happen."

On the delay, he said: "It's pretty amazing, I think, that it's taken this long."

Borson was equally clear about what is at stake for the lower leagues. "It's completely critical to League One, League Two and the Championship. Without it, I don't know where we'd be."

He explained: "Because this deal, this solidarity payment, allows them to function because the TV deal that they get themselves is just not enough."

Not everyone is happy

Despite such positive reactions to the actions of the Premier League giants, those in the leagues below are not so receptive, to say the least. Some fans have accused the top flight of being "greedy" and a "cartel," one which continues to roll around in money, while the others suffer.

One fan suggested: "Maybe you need to be less greedy. No where near enough. Hope it's rejected & the regulators impose a much fairer funding agreement on the PL. 25% of TV money should go to the EFL. 12.5% to Championship, 7.5% to League 1 & 5% to League 2."