The Premier League and the EFL have confirmed an agreement on a rescue package of £50 million for League One and Two clubs. The Premier League will also assist the EFL in securing a £200 million loan facility that Championship clubs will be able to utilise interest-free.
Premier League and EFL Agree on Rescue Package
Oliver Dowden Statement
Culture Secretary Oliver Dowden released a statement saying, “I warmly welcome this deal between the Premier League and the EFL which provides up to £250 million support to help clubs through Covid.
“I’m glad that football has come together to agree this substantial package. Fans are starting to return and we look forward to building on this as soon as it’s safe.
“With a £250 million support package for men’s elite football and £300 million government funding for Women’s football, the National League and other major spectator sports we have fuel in the tank to get clubs and sports through this.”
Relief for EFL Clubs
The news will come as an immense relief for clubs in the EFL, who would have been concerned about their financial capabilities to survive. Now, though, with the agreement in place, those concerns should no longer arrive.
With fans returning, too, the extra income from gate receipts will provide clubs with a major boost financially. Even if it is just 2,000 fans, the money made from that alone will allow many clubs that crucial financial breathing room.
It has to be said that, if a deal between the EFL and the Premier League hadn’t been agreed, many clubs would have been facing the potential prospect of going bust. Fotunoutly, however, logic prevailed and a deal was so crucially and rightfully agreed for the rich of the top flight to help the poor within the EFL.
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