EFL rejects Premier League's COVID-19 bailout offer of £50m

Ruben Hill
October 18, 2020

He told the PA news agency: "It was far too little, too onerous in regards of the strings attached and didn't offer any real solution moving forward".

The head of English soccer said he walked away from talks about a reshaping of the leagues being spearheaded by Liverpool and Manchester United over their pursuit of more power and threats to break away from the Premier League.

The likes of Henry and the Glazers have little concept of the importance of football clubs to their communities, particularly in the lower leagues, coming as they do from the U.S. where sport franchises are happy to relocate if a different city offers them a more lucrative deal. It announced on Wednesday that discussions were continuing with the EFL over support for Championship clubs.

The Premier League's offer came less than a week after details of Project Big Picture (PBP) plans emerged.

The plans - if approved - would see the Premier League distribute more cash to the 72 professional teams in the English Football League.

Realistically, numerous EFL's wounds are self-inflicted and so Project Big Picture looked like a get out of jail free card to many of its clubs, but its real effect is actually likely to be to force the government and the Premier League to finally accept the urgency of the need to find a workable way of bailing out the EFL. Its chief executive Richard Masters spoke on Wednesday about the need to "re-establish trust" with the EFL leadership after the events of last weekend.

The offer from the Premier League was a combination of grants and interest-free loans aimed at helping clubs as they struggle with a lack of matchday revenue caused by restrictions due to COVID-19.

The Premier League said its offer remains on the table and it had been able to engage with the EFL and would ask any of its clubs in immediate risk thanks to the crisis.

Vince also said his understanding was that the offer was conditional.

"I think when the process keeps on going and people are talking about it then it is very positive".

The carrot dangled to get desperate EFL clubs onside was the apparently magnanimous gifting of £250m plus a net 25pc of future TV revenues to the EFL, but in reality, much of that cost would have been offset by reducing the Premier League to 18 teams and scrapping parachute payments.

"And we know that they have the means to prevent this from happening within their existing mechanisms".

Other reports by Click Lancashire

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