Premier League agrees £250 million bailout package with EFL to survive impacts of coronavirus

A deal has been agreed between the Premier League and the rest of the clubs in the top four leagues to provide them with money to help survive the financial impacts of the coronavirus. League One and League Two clubs have been given a £50 million grant and Championship teams have been given a total interest free loan of £200 million.

The Premier League has agreed to pay the English Football League a quarter of a billion pounds as part of a bailout for the rest of the clubs in the football pyramid who have been hit by the coronavirus pandemic.

Club finances have been hit hard since the pandemic barred fans from entering stadiums, with many at risk of going out of business.

Stadiums in Tiers 1 and 2 under new government classifications are permitted to let a limited amount of fans in to watch football and other sports, but it is not expected to make up for the financial hit already taken.

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The agreement, approved at a shareholders' meeting on Thursday, will see the second-tier Championship receive an interest-free £200 million loan while third-tier League One and fourth tier League Two clubs have been awarded a £50 million grant.

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"Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic," EFL chair Rick Parry announced after the agreement was reached.

"I'm 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."

The government's Department for Digital, Culture, Media and Sport (DCMS) secretary Oliver Dowden welcomed the deal months after he urged the top flight to step up and provide financial support to the lower league clubs.

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Dowden and other government figures had been pressing for action from Premier League clubs and players, but an agreement has only now been reached.

"I'm glad that football has come together to agree this substantial package. Fans are starting to return and we look forward to building on this as soon as it's safe," Dowden said.

"With a £250 million support package for men's elite football and £300 million government funding for women's football, the National League and other major spectator sports we have fuel in the tank to get clubs and sports through this."

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