EFL to receive 250 million pounds bailout package from Premier League

Premier League has offered 50 million pounds in the form of a grant and a 200 million pounds loan facility for lower league clubs of English football.

Published : Dec 03, 2020 19:57 IST

The Premier League's earlier grant of 50 million pounds has been rejected by the lower leagues.
The Premier League's earlier grant of 50 million pounds has been rejected by the lower leagues.
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The Premier League's earlier grant of 50 million pounds has been rejected by the lower leagues.

The Premier League has reached an agreement with the English Football League (EFL) to provide a 250 million pounds bailout package for lower division clubs struggling financially due to the COVID-19 pandemic.

Premier League clubs gave their final approval to the agreement at a shareholders' meeting on Thursday.

“A fund of 50 million pounds in the form of a grant and monitored grant payments has been agreed for League One and Two clubs,” the Premier League said in a statement.

“The Premier League will provide a further financial commitment to assist the EFL in securing a 200 million pounds loan facility that Championship clubs will be able to utilise interest free.”

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