Full transcript as Simon Jordan and Aston Villa's Christian Purslow clash over finances

Simon Jordan and Christian Purslow were involved in a heated debate about finances in English football in the wake of a fan-led review into the future of the game.

Aston Villa chief executive Purslow was speaking on Talksport with ex-Crystal Palace chairman Jordan and they discussed the prospect of the Premier League sharing more wealth with the Football League.

It sparked an extraordinary debate between the pair which came in the wake of a report that has recommended an independent regulator to oversee English football.

Led by Conservative MP Tracey Crouch, the 162-page document called for action to change the game in the country and to stop clubs collapsing like Bury in 2019.

Suggestions have been made that Football League clubs should get a fairer share of the riches from the top flight which sparked a passionate exchange between Jordan and Purslow.

Here is the full transcript.

READ MORE: The Aston Villa player in transfer limbo as Dean Smith linked with move

READ MORE: Ollie Watkins reveals key Steven Gerrard difference at Aston Villa

Purslow: "Let's get the smartest minds at the Premier League to sit down with people at the EFL and figure out how we smooth that journey."

Jordan: "That's a slightly glib statement, Christian, because what the Premier League has tended to do..."

Purslow : "I'll tell you what the Premier League has done."

Jordan: "Let me finish."

Purslow: "The Premier League has committed £1.6bn to the government to pay down the pyramid in the next three years. Listen to that figure. £1.6bn is committed by the Premier League to fund the rest of English football.

"English football by the way, if anybody hasn't noticed, has got age groups winning world cups....

Jordan: "That's lovely Christian."

Purslow : "Does anybody think there's a problem there?"

Jordan : "Hang on Christian. Let's look at the reality of the obligations the Premier League doesn't fulfill. It's got a five per cent obligation to fund grassroots which it hasn't done over the last 20 years.

"It's hundreds and hundreds of million pounds short on that obligation. The last time the Premier League sat down with the EFL and wanted to help them through solidarity payments, it was 'here's the solidarity payments that we're going to give you out of goodwill and by the way here's the Elite Player Performance Programme which means we take away..'."

Purslow: "Not true."

Jordan: "Yes it is true because I was there when they did it."

Purslow: "We sat down six months ago and put in place a £250m loan facility.

Jordan: "That's a different point."

Purslow: "You said the last time the Premier League sat down with the EFL was several years ago. Last summer they sat down with the Championship and gave them a £250m interest-free loan facility.

"Do Tescos give the corner shops £250m loan facility?"

Jordan: "Hold on. It's a great argument and Steve Parish made it. I get that."

Purslow: "It's true. How many other industries support the rest of their industry?"

Jordan: "Its 14 per cent of the product that is supplied by the Premier League comes from a league that has been decimated by the Premier League."

"I am a great advocate of meritocracy. I am also - with a foot in the other camp - a great believer that the Premier League exists from the sum of its parts from English football which is the pyramid system.

"It is undeniable that the Premier League was dragged kicking and screaming to help the EFL. It did it reluctantly under duress and threat.

"It also didn it because it knew it was going to get the broadcast deal waved through by the government when it came to Sky and BT putting their next thing forward.

"I am not going to allow you to pitch a woo that's not quite true."

READ MORE: Inside Aston Villa's dressing room as Leon Bailey splashes £8k on Nike trainers

READ MORE: Christian Purslow strongly disagrees with Gary Neville as Aston Villa CEO slates proposal