Michael Carrick doubles down on Middlesbrough's promotion ambition amid parachute payments theory

Michael Carrick says Middlesbrough have to believe they can compete with Championship teams who benefit from parachute payments, with history proving that it can be done.

Boro head into an eighth consecutive season in the second tier, but still carry the aim of getting back to the Premier League next term. However, having failed to use the advantage of their own parachute payments in the three seasons from 2017, Boro have been competing with one arm behind their back - as most in this division do.

At least three clubs receive the solidarity payments from the top flight each year after relegation. Next year, though Luton Town's relegation is to be officially confirmed later today as the final Premier League fixtures are played, Boro already know that Burnley and Sheffield United will be coming down to the Championship with the payments estimated to be around the £40 million mark in the first year to boost their spending power.

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The three relegated teams will be joined by one other club in receiving parachute payments next season, with one of Leeds United and Southampton failing to win promotion after last year's relegation. The pair compete at Wembley next weekend in the play-off final for an immediate return to the top flight.

Relegated two years ago, Watford and Norwich City will no longer receive parachute payments from this summer after a rule change meant that the payments only last two years if you spend only a solitary year in the top flight - something that will impact Burnley, Sheffield United and Luton Town if they don't make it back up within two years.

With Carrick close to committing his future to Boro by signing a new contract, and clear in his ambition to challenge for promotion next season, he said of competing with clubs with parachute payments: “We have to believe that. It’s what we’re here for. We want to win and we want to get out of the league.

"Money is money, but it's certainly not everything. Money can’t buy happiness and it can’t always buy you out of a football league, as has been proven countless times. Yeah, we’ve got to be realistic and I understand where we are in terms of that.

"But it doesn’t mean we can’t do it. We certainly believe we can, and we certainly believe it’s possible. You’ve got to do a lot of good work in so many different ways to make that a reality, but without doubt, it’s something we’re striving for."

History backs up Carrick's belief too. Ipswich Town are the latest Championship side to achieve PremIer League promotion without the payments from the top flight - continuing a record that sees at least one side in each of the last 10 years go up without them. The average is growing in favour of parachute payment beneficiaries, but those without who get it right on and off the pitch are still competing.

“It’s proven pretty much every year," Carrick continued. "Some teams will over-perform and some will over-perform and punch above their weight financially. That’s just natural. We know what we’re competing against, but at the same point, if we get our work right - whether that’s recruitment, whether that’s coaching, whether that’s just creating a right environment and looking after players a certain way - we feel that we can be successful."

Boro are hoping for a successful summer transfer window to help aid their push for promotion. Luke Ayling is set to become their first signing when his Leeds United contract expires at the end of June, after a successful loan spell in the second half of this season. They will also aim to strengthen their midfield, forward line and attack, while keeping their best players amid top-flight interest could prove crucial too.