EFL agree bail-out package for League Two clubs

SWINDON TOWN will receive part of a £50m relief grant after the EFL and Premier League concluded negotiations on a Coronavirus rescue package for EFL clubs to help address the financial issues caused by the COVID-19 pandemic.

After lengthy discussions between the EFL and the Premier League, a £250m financial support package has been agreed. The rescue package consists of a grant of £50m for League One and Two clubs which will be monitored through grant payments, whilst Championship clubs will receive a £200m loan which they will be able to utilise interest-free.

Final approval from the Premier League clubs was received at today’s shareholder meeting.

Under the rules of the £50m relief package for League One and Two clubs £30m will be split between the 48 clubs as a grant with a further £20m available on application as a monitored grant.

Each League One club will receive a minimum payment of £375,000 whilst League Two clubs will receive a minimum of £250,000.

The remaining £15 will be distributed using a lost gate share revenue calculation which is subject to approval by both the EFL and Premier League.

Speaking about the agreement, EFL Chair, Rick Parry, said:

“Our over-arching aim throughout this process has been to ensure that all EFL Clubs survive the financial impact of the pandemic. 
 
 “I am 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.

“I would like to thank Richard Masters and Gary Hoffman for their efforts on behalf of the Premier League, and of course their shareholders, for making this welcome, tangible commitment to the professional game at a time when it has needed it most.”