Last transfer news Premier League insists £50m rescue package remains available to EFL clubs Breaking sport news
PremierLeague-News.Com - The EFL rejected the offer, designed to assist clubs affected by the coronavirus pandemic.
PremierLeague-News.Com - Breaking Sport Transfer News ! The Premier League has said that its £50million rescue package to League One and League Two clubs remains available. The EFL rejected the offer, designed to assist clubs affected by the coronavirus pandemic and made up of grants and interest-free loans, after divisional meetings with its clubs on Thursday. In a statement, the Premier League added that there are "no conditions relating to promotion and relegation, setting the level of salary caps or loan deals, as is being claimed". The EFL's statement described the Premier League's offer as "conditional", but the Premier League's position is that the sole condition is that a club must prove it will soon go out of business because of the pandemic to access the grants and loans. The rescue package is understood to comprise of £20million in grants, with the remaining £30million as interest-free loans.
News source = PremierLeague-News.Com
"This proposal – which consists of grants and interest-free loans totalling £50 million – aims to ensure that no club will go out of business as a result of the financial impact of COVID-19, and all will be able to complete the 2020/21 season.
"There are no conditions relating to promotion and relegation, setting the level of salary caps or loan deals, as is being claimed.
"The Premier League has no intention whatsoever to cause divides and will engage with any EFL club, including those in the Championship, that is suffering severe financial losses due to the pandemic."
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Source = PremierLeague-News.Com