EFL turns down Premier League financial package

THE EFL have said a financial rescue package from the Premier League for League One and League Two clubs is not enough.

The offer consisted of grants and interest-free loans totalling £50 million, on top of the £27.2m solidarity payments already advanced to League One and League Two this year, making a total of £77.2m.

The Premier League said discussions would also continue with the EFL regarding Championship clubs’ financial needs.

The EFL held talks throughout Thursday with their 72 clubs, including Exeter City and Plymouth Argyle, and issued a statement in the evening.

The EFL indicated the offer did not ‘address the short-term financial needs of all of our clubs’.

The statement read: “EFL clubs have today met by division to discuss the conditional offer put forward yesterday by the Premier League in respect to the financial support required as a result of the COVID-19 pandemic.

“The need for continued unity across the membership base was fundamental to discussions across all three divisions, and therefore there was a strong consensus that any rescue package must meet the requirements of all 72 clubs before it can be considered in full.

“The League has been very clear in its discussions of the financial requirements needed to address lost gate receipts in 2019/20 and 2020/21.

“The EFL is keen to continue discussions with the Premier League to reach an agreeable solution that will address the short-term financial needs of all of our clubs and allow us the ability to consider the longer-term economic issues in parallel that specifically look to achieve a more sustainable EFL for the future.”