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The proposal would establish an independent regulator with statutory powers. These powers include regulation of finance, corporate governance, ownership, club heritage and fan engagement, and backstop powers over revenue distribution.

The IA provides a satisfactory indicative assessment of the direct impacts on business, in line with RPC requirements for primary legislation stage IAs. The assessment of impacts on small and micro businesses is sufficient. The IA follows Treasury Green Book good practice on options identification and short-listing. The cost benefit analysis overall is satisfactory. There are some areas for improvement in this and in the assessment of wider impacts and the monitoring and evaluation plan. The IA describes how impacts will depend on secondary legislation and regulator codes of practice. The RPC would expect to see these assessments for validation of direct business impacts, subject to better regulation framework requirements.