MONEY IN PREMIER LEAGUE FOOTBALL

That this House notes the four-year 24 million shirt sponsorship deal which Newcastle United has concluded with Wonga, the payday loan company which charges up to 4,214 per cent compound interest on loans; regrets that this deal is typical of the attitude of the Premier League which exists to maximise profits for the owners, players and their agents; records that the existing and newly-signed television deals which the Premier Leaguehas signed will generate billions of pounds for owners, players and agents while grassroots football and school sports are starved of money; and believes that there is now an unanswerable case for a 50 per cent windfall tax to be levied on television monies coming into Premier Leaguefootball with the proceeds ring-fenced and administered by the Football Foundation and Sport England for school sports and grass roots football facilities.