The new Independent Football Regulator will have the power to address reform parachute payments in a boost to Blackburn Rovers.

Clubs relegated from the Premier League have long been given a financial advantage which has distorted the competitiveness at the top end of the Championship.

In previous cases, it has forced clubs without those funds to gamble in a bid to compete. In today's climate, it's extremely rare for a parachute payment side to not, at least, make the play-offs. It makes a promotion push for teams like Rovers a tough ask.

Under the Tories, parachute payments were set to be excluded from the remit of the regulator. However, the new bill under Labour will give the power for changes to be made.

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Importantly, it will also hold clubs accountable to hold meaningful engagement with supporters over changes to tick pricing or controversial issues such as stadium moves.

It will not have to consider the UK Government's foreign and trade policy when approving club takeovers. This was a particularly contentious issue around Newcastle United when the Saudi Public Investment Fund took charge from Mike Ashley.

Blackburn Rovers and the Supporters' Trust have welcomed the introduction of an Independent Regulator, which was initially mooted after the failed Super League proposal. The concern of clubs such as Macclesfield, Bury, Derby County and Bolton Wanderers going to the wall also sparked the need for change.

The Premier League are vocal in their opposition to more regulation. Their argument is that increased controls could damage the product. But on the flip side, there is a clear financial distribution issue in England and those at the top have shown little appetite to address it.

Labour Culture Secretary Lisa Nandy said: "English football is one of our greatest exports and a source of national pride which this Government wants to see thrive for generations to come.

"But for too long, financial instability has meant loyal fans and whole communities have risked losing their cherished clubs as a result of mismanagement and reckless spending.

"This bill seeks to properly redress the balance, putting fans back at the heart of the game, taking on rogue owners and crucially helping to put clubs up and down the country on a sound financial footing."