Peterborough United’s share of a £50 million rescue package has moved a bit closer

The EFL is confident a £50m rescue package from the Premier League moved a step forward yesterday (November 12).
The League One logo.The League One logo.
The League One logo.

Clubs in Leagues One and Two look set to be able to access the package soon. The package is understood to have been made up of £20 million in grants and £30 million in loans to help clubs deal with the absence of matchday revenue.

The Premier League bringing a separate package for Championship clubs appears to have moved the talks forward.

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An EFL statement read: “EFL clubs have today met by division and separately engaged in overwhelmingly positive discussions in respect of the proposed short-term rescue package currently being discussed between the EFL and Premier League.

“Following a comprehensive debate in all three divisions, a collective agreement in principle was made to move forward and finalise the negotiations, with Championship clubs making it clear today that they wanted to ensure their colleagues in League One and League Two received the proposed £50m financial support package to cover gate losses for 2019-20 and 2020-21 as soon as is practically possible.

“Championship clubs also acknowledged that discussions in respect of the levels of support they will receive will remain ongoing.

“The EFL believes that today represents a significant step forward and is hopeful that a final agreement on the short term rescue package across all three divisions can be reached imminently which will provide much needed support, clarity and certainty for all EFL clubs at a time when they need it most.

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“In addition to finalising the short-term financial issues, clubs were today informed that the EFL will contribute fully in the Premier League’s strategic review to consider the future structure and financing of English football, and will hopefully have a direct and positive impact on a more sustainable EFL in the future.”

It is understood the top flight also reaffirmed its commitment that no EFL club need go out of business this season as a result of the pandemic.

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