Premier League set to make new bailout offer to EFL

Premier League is set to make a new bailout offer for EFL during the shareholder meeting on Thursday, reports multiple British media outlets. The top-flight football governing body has been working to come up with a package that will give financial respite to EFL clubs during the pandemic.

The new offer is reportedly going to be similar to the previous offer, which was worth £50 million. However, PL will be making sure that no Championship club will be going out of the business. The package is divided into two parts- £20 million paid upfront, while £30 million as the emergency fund.

It remains to be seen whether EFL will accept this proposal after rejecting the previous package of a similar amount. The assurance of protecting Championship clubs from going into bankruptcy could be a game-changer.

The traditional top six clubs had also proposed Project Big Picture that provided £250 million funds for EFL clubs. However, the bigger clubs wanted more control in the football pyramid of England, so the proposal was unanimously rejected by other clubs in the Premier League.

EFL did support the project big picture publicly, but it didn’t get enough votes in favour during the shareholders meeting last month. Since many lower league clubs are staring at big losses, the biggest league in Europe will have to come up with a financial package that will maintain balance in English football.

The football leagues in England did receive a massive boost last week as they were allowed to continue during the second lockdown. The new lockdown is set to be implemented from the first week of November till the start of December. Another halt in football would have lead to more losses as the clubs are already struggling since fans are not allowed into the stadiums.

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