Premier League and EFL agree coronavirus rescue package to stop clubs going bust

Video LoadingVideo UnavailableClick to playTap to playThe video will auto-play soon8CancelPlay now

Get our daily coronavirus email newsletter with all the news you need to know direct to your inbox

Sign upWhen you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time.Thank you for subscribingWe have more newslettersShow meSee ourprivacy noticeInvalid Email

The Premier League and the EFL have agreed a rescue package to protect lower-league clubs from going under amid the coronavirus pandemic.

The EFL said a fund of £50million in the form of a grant and monitored grant payments has been agreed for League One and Two clubs while the Premier League will provide a further financial commitment to assist the EFL in securing a £200m loan facility that clubs in the second tier will be able to utilise interest-free.

The news follows months of negotiations between the two governing bodies.

EFL chairman Rick Parry said: "Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic.

Premier League chief Richard Masters and EFL chairman Rick Parry have hailed the deal

Read More
Related Articles


  • Arsenal chiefs 'don't understand' how club allowed highly-rated prospect to leave

Read More
Related Articles


  • Mauricio Pochettino tipped to take PSG job amid Man Utd and Real Madrid links

"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.

"I would like to thank (chief executive) Richard Masters and (chairman) Gary Hoffman for their efforts on behalf of the Premier League, and of course their shareholders, for making this welcome, tangible commitment to the professional game at a time when it has needed it most."

Get the latest news straight into your inbox!

It has been a hectic season so far – so make sure you don't miss a single thing by signing up for the brilliant new Mirror Football newsletter!

All the latest transfer news and big stories will land straight into your inbox. You won't miss out.

To sign up, put your email at the top of this article or follow the instructions on this link.

Masters said: "The Premier League is a huge supporter of the football pyramid and is well aware of the important role clubs play in their communities.

"Our commitment is that no EFL club need go out of business due to Covid-19.

"All football clubs continue to suffer significant financial losses as a result of the pandemic, but Premier League shareholders today unanimously agreed to provide additional funding and support for EFL clubs in real financial distress.

"We are very pleased to have reached this agreement and we stand together with the EFL in our commitment to protect all clubs in these unprecedented times."

You may also like...