PREMIER LEAGUE

SECTION A: DEFINITIONS AND INTERPRETATION
A.1.143.
A.1.144.
A.1.145.
A.1.146.
A.1.147.
A.1.148.
A.1.149
A.1.150.
“these Rules” means the rules for the time being of the League and a letter and a number
following a reference to a rule identifies the Section in which it is comprised and its number
within that Section;
“Scout” means any person employed or engaged by a Club (whether on a full-time or parttime
basis and whether or not he is remunerated in any way for his services) whose duties
include identifying to his Club players whose registration his Club may wish to secure;
“Search and Intervention Steward” has the meaning set out in Rule S.1.13;
“Season” means the period commencing on the date of the first League Match on the fixture
list of the League’s first team competition and ending on the date of the last;
“the Secretary” means the general secretary of the League;
“Section” means a Section of these Rules;
“Secure Funding” means funds which have been or will be made available to the Club in an
amount equal to or in excess of any Cash Losses which the Club has made in respect of the
period from T-2 or is forecast to make up to the end of T+2. Secure Funding may not be a loan
and shall consist of:
(a) contributions that an equity participant has made by way of payments for shares
through the Club’s share capital account or share premium reserve account; or
(b) an irrevocable commitment by an equity participant to make future payments for
shares through the Club’s share capital account or share premium reserve account. This
irrevocable commitment shall be evidenced by a legally binding agreement between the
Club and the equity participant and may if the Board so requires be secured by one of
the following:
i. a personal guarantee from the ultimate beneficial owner of the Club, provided that
the Board is satisfied that (i) he is of sufficient standing and (ii) the terms of the
guarantee are satisfactory;
ii. a guarantee from the Club’s Parent Undertaking or another company in the Club’s
Group, provided that the Board is satisfied that (i) the guaranteeing company is of
sufficient standing and (ii) the terms of the guarantee are satisfactory;
iii. a letter of credit from a Financial Institution of sufficient standing and an
undertaking from the Club’s directors to the Premier League to call on the letter of
credit in default of the payments from the equity participant being made;
iv. payments into an escrow account, to be paid to the Club on terms satisfactory to
the Board; or
v. such other form of security as the Board considers satisfactory; or
(c) such other form of Secure Funding as the Board considers satisfactory.
“Shares” means shares or other equity securities;
PREMIER LEAGUE RULES: SECTION A
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