Wednesday, November 6, 2024

Premier League and EFL agree £250m rescue package

SoccerNews in General Soccer News 3 Dec 2020

67 Views

The Premier League and English Football League (EFL) have agreed a £250million rescue package to help clubs overcome the financial challenges of the coronavirus pandemic.

Championship clubs will have access to a £200m pool of interest-free loan funds, while a £50m grant will be made available for those in League One and Two.

Loans to second-tier clubs will be capped at £8.33m and would have to be repaid by June 2024.

EFL chairman Rick Parry welcomed the resolution after lengthy discussions.

“Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic,” he said.

“I am pleased that we have now reached a resolution on behalf of our clubs and as we have maintained throughout this will provide much-needed support and clarity following months of uncertainty.”

Fans returned to some Football League grounds this week after England’s national lockdown was replaced by a tier system.

However, with attendances limited by social-distancing measures, clubs are unlikely to profit from staging matches under such circumstances.

It is hoped that the deal agreed on Thursday will prevent the worst-case scenario of clubs going out of business.

ABOUT THE AUTHOR

SoccerNews

Soccernews.com is news blog for soccer with comprehensive coverage of all the major leagues in Europe, as well as MLS in the United States. In addition we offer breaking news for transfers and transfer rumors, ticket sales, betting tips and offers, match previews, and in-depth editorials.

You can follow us on Facebook: Facebook.com/soccernews.com or Twitter: @soccernewsfeed.

SHARE OR COMMENT ON THIS ARTICLE

WE RECOMMEND

Leave a Reply

Your email address will not be published. Required fields are marked *

This field is required *

Join the conversation!

or Register

Live Scores

advertisement

Betting Guide Advertisement

advertisement

Become a Writer
More More
Top