Tigers collect nearly £6m
HULL City’s finances were boosted to the tune of nearly £6m last month, to ease some of the pressure caused by the impact of coronavirus and the huge loss of revenue.
The League One club were handed £5.8m from the Premier League for the 2019-20 season which is in addition to the £50m rescue package from the top flight handed out last month to help with the pandemic.
City received £4.5m as a core club payment in line with the majority of other Championship clubs, with £739,000 going to the club’s academy and another £631,000 for the Tigers’ community work.
However, owing to their relegation from the Championship in the summer, City will only be entitled to £675,000 at the end of the year.
Sunderland, however, were still receiving parachute payments from their time in the Premier League so subsequently pocketed £16.9m, of which £15.2m was courtesy of the Core Club fund.
“The success of the Premier League both at home and around the world allows it to make a significant contribution to the UK economy and the wider game,” the Premier League said.
“Alongside generating £3.3billion in tax annually for the UK government, including £1.1billion from the players alone, the Premier League directs crucial funding throughout the football pyramid.
“This supports clubs in the English Football League (EFL) and the National League, not just with core solidarity payments to assist their general costs, but also investment into their wide-ranging community programmes, and to fund their development of young players in their academies.
“This funding is received annually and is in addition to the rescue package to address the immediate financial challenges faced by EFL clubs as a result of the COVID-19 pandemic.”