Portsmouth CEO Andy Cullen welcomes 'significant announcement' made in King's Speech that all clubs will benefit from

Andy Cullen has welcomed the Football Governance Bill that was outlined in the King’s Speech during the State Opening of Parliament this week.

The Pompey chief executive said the Blues fully support the government’s plans to appoint an independent regulator in English football, which will ‘safeguard the future of football clubs for the benefit of communities and fans’.

The planned legislation is a result of a fan-led review into football governance that was chaired by former Sports Minister Tracey Crouch. The white paper produced as a result said a regulator was imperative to prevent clubs from going out of business. Among its recommendations are the need to give fans greater input and a strengthened owners' and directors' test.

Pompey know better than most the difficulties clubs can face if they overspend while chasing the dream, or if an owner becomes disinterested or encounters financial difficulties.

They’ve learned the hard way and ultimately only exist today thanks to fan ownership which rescued the club from liquidation in 2013. It’s also why the Blues - owned now by Tornante - operate under a self-sustainable and debt-free financial model that safeguards the club’s future.

Giving the plans for a new independent football regulator the tumbs up, Cullen said the legislation should deliver greater financial integrity and prevent the reckless unsustainable gambling of clubs’ futures.

Speaking in today’s match programme, the CEO said: ‘Last Tuesday also saw another significant announcement, with confirmation in the King’s Speech that the government intends to bring forward legislation for an independent financial regulator for English and Welsh professional football. There has been significant debate within the industry about the need for government regulation. But this is an initiative that we do fully support and one we believe that if correctly implemented, will safeguard individual clubs and the game.

‘The indication from the football white paper is that the regulator’s primary focus will be financial, to safeguard clubs within their communities through a licencing mechanism. This will seek to deliver greater financial probity and prevent the reckless unsustainable gambling that has affected several clubs over the past few seasons and ultimately led to the demise of Bury FC and Macclesfield. Much of this proposed legislation has emanated from the government’s fan-led review. At its heart, the review sought to prevent clubs from overspending in pursuit of a dream, without the means to sustain it all should owners run into problems or lose interest.

'The bill should provide the opportunity for clubs throughout the pyramid to get to a better, more sustainable and competitive place. At Fratton Park, we are fortunate to have an ownership who have taken the bigger picture, investing a significant amount into stadium infrastructure, safeguarding Fratton Park and restoring ground capacity, as well as delivering a club owned training ground. Importantly, this has all been provided for through equity and not debt, creating a strong platform for the club to continue to develop and grow for many years to come.

'The EFL have told us that once the bill enters Parliament, the legislative process is expected to take between six and nine months. However, it could take longer if certain aspects of the bill prove to be divisive or attempts are made to amend its content. Portsmouth Football Club will join the EFL in supporting its smooth progress.'