Kier Starmer may have just saved his beloved Arsenal £65m over the course of the next five years in a move that will be celebrated by all of the Premier League.
Labour leader Starmer is currently on the campaign trail ahead of the general election of 4th June and is, according to nearly every poll, expected to be the prime minister come that date.
In recent days, Starmer has addressed his policies on football, which is currently under the supervision of the Department for Culture, Media and Sport.
The general election announcement has held up the introduction of the independent regulator for English football, the body which is being established to safeguard fan interests and the game’s finances.
That delay will be celebrated by the likes of Arsenal, who are opposed to the concept of independent regulation alongside the majority of their peers in the Premier League.
And the latest statement from Starmer will also be welcomed by the Gunners.
Arsenal fan Kier Starmer distances himself from transfer tax
Reports in recent days had suggested that a Labour government could, as part of its plans for independent regulation, introduce a 10 per cent tax on all Premier League transfers.
Arsenal have spent £647.57m on new signings over the last five years.
Based on that figure, a 10 per cent transfer levy would cost Arsenal around £65m when extrapolated over the course of a five-year Labour government.
However, Starmer has concretely denied that he would introduce such a measure.
As relayed by Bloomberg, the 61-year-old said: “Let me just kill that one: we’re not looking at that.”
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Analysis: Why are Arsenal opposed to independent regulation?
The Premier League is desperate to prove it can self-regulate in order to water down the final scope of the independent regulator for English football.
Under its current proposed formulation, the regulator would have the power to implement a new owners and directors test and, among other backstops, prevent clubs from joining breakaway competitions.
Arsenal are backing the expanded Club World Cup and were one of the main drivers of the botched European Super League plot.
And while they have since distanced themselves from that rebel tournament, the Gunners are keen to make their own decisions without being beholden to a government-backed regulator.