The Guardian- 5 December 2020-   £50m fund for clubs in League One and League Two...£200m loan facility available for Championship interest-free...

After nearly six months of gridlock, uncertainty and bickering with the government, the Premier League has agreed to fund an enhanced £250m rescue package for Football League clubs.

The bailout will allow League One and League Two clubs to access £30m in funding immediately in order to combat the devastating financial impact of the Covid-19 pandemic. Clubs in League One will receive a minimum payment of £375,000 and League Two sides at least £250,000.

Another £15m will be distributed using a lost gate revenue share calculation, which will be approved by the EFL and Premier League. A further £20m is a “monitored grant” to the bottom two divisions, with clubs to apply for extra funds based on need.

The deal was confirmed by Richard Masters, the Premier League chief executive, who said it underlined the league’s commitment “to protect all clubs in these unprecedented times”.

“The Premier League is a huge supporter of the football pyramid and is well aware of the important role clubs play in their communities,” he said. “Our commitment is that no EFL club needs to go out of business due to Covid-19.

“All football clubs continue to suffer significant financial losses as a result of the pandemic but Premier League shareholders have unanimously agreed to provide additional funding and support for EFL clubs in real financial distress.”

The Premier League will also provide another £15m to allow the EFL to secure a £200m loan facility that it will on-lend to Championship clubs interest-free. However insiders have made clear this money will be for clubs to pay debts and taxes – not to sign players. With no gate receipts for nearly nine months many clubs were facing a perilous future and the fear was that the league structure could even collapse if a deal was not agreed.

The Forest Green chairman, Dale Vince, said the Premier League’s “voluntarily act of kindness” would make a real difference. “It’s something for us to be grateful to the Premier League for sincerely because they didn’t have to do this,” he said. “If you look across society, I don’t think there’s another example of somebody like the Premier League helping out its neighbours and industry fellows.

“Uniquely this government thought the Premier League should bail out football while it’s bailed out rugby, horse racing, the arts, pubs, all sorts of sectors but refuses to do anything for the football pyramid.

“We’ve been affected by lockdown restrictions and every other sector of business that has had those restrictions has had [government] support – we’ve had none. Fair play to the Premier League, I think it’s brilliant what they have done. It’s a standout, unique example in our country.”

The news was also welcomed by the EFL chair, Rick Parry, who said: “Our overarching aim throughout this process has been to ensure all EFL clubs survive the financial impact of the pandemic.

“I am pleased 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.”

The culture secretary, Oliver Dowden, also hailed the fact that football had come together to agree what he called a “substantial package”. “Fans are starting to return and we look forward to building on this as soon as it’s safe,” he added.

“With a £250m support package for men’s elite football and £300m 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.”

Julian Knight MP, the chair of the digital, culture, media and sport committee, said he welcomed the rescue package but criticised the delay. “This fiasco is evidence of a lack of accountability within football’s governance structure, demonstrating the urgent need for a review of how the business of football can be better managed in the interests of the clubs, fans and the nation.”{jcomments on}

https://www.theguardian.com/football/2020/dec/03/premier-league-agrees-bailout-with-efl-to-help-struggling-clubs

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