Premier League agrees £250m rescue package to help cash-strapped EFL clubs with Championship sides receiving £200m loan
PREMIER LEAGUE clubs have finally agreed a bail out deal for the lower leagues.
After months of wrangling, the 20 top flight clubs have unanimously agreed to change the terms of their initial £50m offer to Leagues One and Two.
And they have also formally agreed to a £200m loan package for Championship clubs suffering financially as a result of the Covid crisis.
EFL clubs turned down the first offer which was solely to the lower two tiers.
They then agreed in principle to the full offer, which included the Championship money, but urged the Prem to alter the terms.
And now that has happened, bringing to an end a long-running dispute which saw the Government turning on football and accusing the Prem of failing to do its duty.
The new offer will see £30m up front as a pure grant to ensure clubs in League One and Two can meet their looming financial commitments.
And while the second tranche of £20m remains in the form on loans at zero interest, there is the possibility of that money also being converted into grants if certain criteria are met.
In addition, Championship clubs can still take advantage of the separate £200m loan offer to cover Covid-related losses.
The Prem clubs voted through new protocols to cover the re-opening of turnstiles to allow up to 2,000 fans to return to grounds in Tier two areas from this weekend.
These include social distancing measures inside grounds, with fans having to sign undertakings about both their health and conduct inside the stadium.
Clubs remain hopeful of a rapid escalation of supporter numbers in the coming weeks, with the possibility of full grounds before the end of the season.
Tottenham confirmed last week that every Prem game without fans has cost the club £5.85m in revenue, with Manchester United also missing out on a similar amount across each of the matches they have played at Old Trafford since the June restart.
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