Bailout funding agreed by clubs

THE long drawn-out negotiating between the EFL and the Premier League over a bailout fund may finally be reaching a conclusion.

The parties met on Thursday and it’s been reported that EFL clubs have agreed to accept an offer of a £50m for teams in League One and League Two.

It follows months of negotiations between the EFL and the Premier League, and after talks broke down several times, it appears the game may at last find a solution to the financial crisis caused by the

Covid-19 pandemic.

The 72 EFL clubs met by division on Thursday to discuss the offer that had previously been rejected.

The Premier League’s offer currently includes unconditional funding – a split between loans and grants totalling £50m – to clubs in League One and League Two.

Championship teams, however, have been invited by the Premier League to apply for hardship funds on a case by case basis.

It was this split that had caused the 72 to reject the offer when it was first made. But with an estimated 10 clubs in League One and Two struggling to make payroll in November and with increased government pressure after a confrontational session at the digital, culture, media and sport committee last Tuesday, that position has now changed.

The EFL confirmed its new position in a statement which read: “Following a comprehensive debate in all three divisions, a collective agreement in principle was made to move forward and finalise the negotiations, with Championship Clubs making it clear that they wanted to ensure their colleagues in League One and League Two received the proposed £50m financial support package to cover gate losses for 2019/20 and 2020/21 as soon as is practically possible.”