Premier League, EFL agree £250-million virus rescue deal

Pulse News Agency International by AFP 02:13 - 12 August 2024

The Premier League and the English Football League have agreed a bailout for lower-league clubs

The Premier League and the English Football League on Thursday agreed a £250-million rescue package to ease the financial pressure on lower-league clubs during the coronavirus pandemic.

The EFL said clubs in League One and League Two -- the third and fourth tiers -- would receive grants worth £50 million ($67 million).

The Premier League will provide a further financial commitment to help the EFL secure a £200-million loan facility for clubs in the second-tier Championship.

It follows months of negotiations between the two governing bodies.

"Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic," said EFL chairman Rick Parry.

"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."