EFL and Premier League statement: Rescue package agreed.

[Devon_Lad]

Support for Clubs in League One and League Two

The relief package will provide a combined fund of £50million for League One and League Two Clubs, with £30million to be paid to all 48 Clubs as a grant and a further £20million available on application as a ‘monitored grant’.

Details are as follows:

• A £30million grant to be paid immediately from the Premier League to EFL Clubs for distribution based on lost gate receipts in respect of the 2019/20 and 2020/21 Season.
  • Each Club will receive a minimum payment of £375,000 in League One and £250,000 in League Two.
  • The remaining £15m to be distributed using a lost gate revenue share calculation, which will be approved by both the EFL and the Premier League.
• In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.
  • Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.
  • Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.
• Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations.

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[denzel ecfc]

Reports in The S*n (I know) that Sunderland have been given £2.7mn to compensate for their losses.

And now they are being taken over.

No point being solvent in this league, someone will bail you out eventually