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Premier League And EFL Agree On $452 Million Support Package


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he English top-flight football competition, the Premier League, and the English Football League (EFL), have agreed on a $453 million rescue package to support the lower-tier clubs’ recovery from the COVID-19 pandemic.

Clubs in England’s second tier, the Championship, will be given a $362 million pool of interest-free loan funds, which will be capped at $15 million each club and will have to be repaid in full by June 2024.

The deal comes after months of negotiations between the two organisations, after the UK government confirmed they would not provide financial aide to English football clubs.

A pool of $90 million will also be made available to clubs in League One and Two, with a large portion of the clubs previously saying they were unsure of their hopes of survival from the financial challenges caused by COVID-19 and playing games with no fans in attendance.

EFL chairman, Rick Parry, said the package will ensure all EFL clubs survive.

“Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic,” Parry said.

“I am pleased that we have now reached a solution on behalf of our clubs and as we have maintained throughout, this will provide much-needed support and clarity following months of uncertainty,” he said.

Premier League CEO, Richard Masters, said the purpose of the package: “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,” he said.

The deal comes after England’s nation-wide lockdown was replaced by a tier system based on the rate of COVID-19 infection by location, meaning several Premier League clubs saw fans return to stadiums for the first time since the season was first suspended in March.

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