parachute paymentsnoun [ plural ]
uk/ˈpær.ə.ʃuːt ˌpeɪ.mənts//ˈper.ə.ʃuːt ˌpeɪ.mənts/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:
Parachute payments were introduced to help relegated clubs absorb the huge losses in revenue that accompany dropping out of the Premier League.
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