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EFL clubs close to finalising bailout package with the Premier League

The EFL have confirmed that there has been a collective agreement among the EFL teams over receiving a rescue package from the Premier League to cover up the gate losses during the coronavirus pandemic.

Earlier last month, the Premier League offered a rescue package worth £50m for the clubs in League One and League Two, but the proposal was rejected by EFL, who emphasised that the Championship clubs should also be covered.

The Premier League has since revised its bailout offer and they are now prepared to help teams in the second tier, but only those who are suffering severe financial hardship due to the pandemic.

The EFL and Premier League have yet to reach a final agreement over the proposal and there is plenty of optimism that the package would be delivered at the earliest possibility.

The teams in League One and League Two have been hampered the most by the lack of gate receipts and around 10 clubs are facing difficulty of meeting the pay-roll for the current month, as per The Guardian.

The rescue package, which will involve £20m in the form of grants and £30m in loans, should provide short-term relief for those teams with fans unlikely to return anytime soon following a fresh lockdown due to the rising COVID-19 cases.

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