This deal would put the whole of the pyramid under the whim of 9 teams.
Those 9, in control of the 25% payout will be able to unilaterally withdraw money from the EFL if they so wish at any time.
A year or so down the line they'll come knocking, "remember that 25%? Well we've decided we need more for our money, so take B teams of we pull it" or maybe "we're splitting to create a big European league, we've decided our B teams can take our place in the PL and you can have 25% of the now reduced Sky deal"
Accept this and the pyramid is dead. It'll be years before something is rebuilt.
Those 9, in control of the 25% payout will be able to unilaterally withdraw money from the EFL if they so wish at any time.
A year or so down the line they'll come knocking, "remember that 25%? Well we've decided we need more for our money, so take B teams of we pull it" or maybe "we're splitting to create a big European league, we've decided our B teams can take our place in the PL and you can have 25% of the now reduced Sky deal"
Accept this and the pyramid is dead. It'll be years before something is rebuilt.