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Premier League

Premier League and EFL agree £250m rescue package

A rescue package worth £250million has been agreed between the Premier League and the EFL.

Update:
Premier League and EFL agree £250m rescue package
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The Premier League and English Football League (EFL) have agreed a £250million (277M euros) rescue package to help clubs overcome the financial challenges of the coronavirus pandemic.

Championship clubs will have access to a £200M (222M euro) 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."

Limited number of fans back in the stands

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.

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