0 a series of payments spread over a period of four years that the Premier League gives to football clubs who are relegated (= moved to a lower group) at the end of a season:
Also, the company is prohibited from making golden parachute payments to a senior executive.
To ease financial problems for clubs that had been relegated, parachute payments were introduced to give time to adapt to the financial gulf between divisions.
However, in many cases these parachute payments just serve to inflate the costs of competing for promotion among the lower division clubs.
