Premier League clubs unanimously approved a number of changes to the League’s Owners’ and Directors’ Test (OADT) at a Shareholders’ Meeting today.
Following a comprehensive review of the OADT, and consultation with clubs and a range of stakeholders, clubs agreed the following Rule amendments and reforms to the OADT assessment process, which will come in with immediate effect:
- A new Disqualifying Event for individuals/companies subject to Government sanctions
- A new Disqualifying Event for human rights abuses, based on Global Human Rights Sanctions Regulations 2020
- Extending the list of criminal offences resulting in disqualification, to include offences involving violence, corruption, fraud, tax evasion and hate crimes
- Extending the list of regulatory authorities, suspension from which will result in disqualification, to include the Charity Commission, FCA, Prudential Conduct Authority, HMRC and Gambling Commission
- Broadening the scope of the insolvency provisions, to enable the League to take action against individuals involved in previous insolvencies in a wider range of circumstances
- A new power for the League to stop those who wish to become ‘Directors’ where they are under investigation for conduct that would result in a ‘Disqualifying Event’ if proven
Following the adoption of these measures, the League will now consult with its clubs and other stakeholders on a further, final package of reforms, to be considered by clubs at the League’s AGM in June.