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06-Nov-2020, 01:02 am

Premier League says EFL rescue package is still on the table


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The Premier League has insisted that their offer to provide the EFL with a rescue package to help smaller clubs stay afloat is still on the table.

A number of lower league clubs are in significant financial danger due to the continued absence of supporters in stadiums at the start of the 2020-21 campaign.

Restrictions designed to contain the spread of coronavirus remain in place across the country, with football forced to continue in a behind-closed-doors capacity for the foreseeable future.

It is feared that alack of matchday revenue will lead to a number of clubs going bust, but the Premier League have already outlined plans to bailout the football league.

The EFL rejected a £50 million ($65m) package for Leagues One and Two from the top flight on October 16, with the proposal said to have fallen well short of the required amount to provide the necessary support for clubs in need.

However, Premier League officials reconvenedto discuss how best to come to the aid of the lower leagues again this week, and have promised to ensure that all clubs in the football league will be protected amid the continued financial uncertaintycaused by the Covid-19 crisis.

The proposal has been outlined despite clubs in England's top division already losing around £700m ($916m)last seasonand currently sustaining losses of £100m ($131m) a month due tothe pandemic.

"Premier League Shareholders met today to discuss a number of important issues," an official statement released by the top flight on Thursday reads.

"Clubs reiterated that the rescue package offered to the EFL remains on the table for League One, League Two and Championship clubs who are suffering significant COVID-19-related hardship.

"The offer guarantees no EFL club need go out of business as a result of the pandemic in the 2020/21 season, and our intention is to play an active role in helping clubs return to financial stability. The Premier League will engage directly with any EFL club that is suffering severe financial losses due to the pandemic, and will remain in dialogue with the EFL on this important issue.

"The rescue package is on top of solidarity payments totalling £110 million already advanced to the EFL this season, alongside additional financial support for youth development and community programmes.


Source : goal.com

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