Tom Wagner became involved in Birmingham City in July 2023
Birmingham City owner Tom Wagner says lower-league clubs "should not take too much" from top Premier League sides, amid ongoing negotiations to redistribute a share of their wealth within the EFL.
Talks over a deal to share Premier League income within the football pyramid are carrying on against a backdrop of pressure from the government as a new independent football regulator is being established.
A bill to establish the regulator became law in July and will have backstop powers to force a deal should it not be agreed.
The Premier League argues English football can govern itself, stating a regulator will have "unprecedented and untested powers to intervene in the distribution of [its] revenues" and have "a negative impact on competitiveness and investment in world class talent".
