The English Football League (EFL) has revealed its latest plans in order to combat COVID-19’s effects on its clubs, including issuing a £50m relief package to be spread among its leagues.
The package is among a growing list of initiatives the EFL plans to introduce in order to prevent clubs from being seriously impacted financially due to the postponement of competitions.
An EFL spokesperson stated: “Discussions centred on financial relief for clubs in the short term and while there is no one single solution, measures are to be put in place to immediately assist with cash flow via a £50million short-term relief package.
“This fund consists of the remaining Basic Award payments being advanced to clubs immediately, with the remainder made up through interest-free loan facilities available to clubs, calculated in line with the EFL’s Article of Associations.”
The organisation also hopes that government intervention plays a significant role in keeping football clubs stable. Despite the Premier League being one of the richest competitions in the world, the same cannot be said for its lower divisions, with a lot of League 1 and League 2 clubs heavily relying on competition money, along with sponsorship contracts to sustain the team’s finances.
The spokesperson added: “The cash injection is included as part of a series of measures, that includes potential Government support to help clubs and their associated businesses through this period of uncertainty.
“The EFL welcomes last night’s announcement made by the Chancellor of the Exchequer, and is continuing discussions to understand how our clubs can access the funding made available to support businesses.”
The EFL has also confirmed that it intends to complete the 2019/20 season, stating that the leagues needs to be completed to ‘protect competition integrity’. However, how and when EFL’s season will be finished has yet to be announced.
According to the organisation, relevant health authorities and the Government are in constant talks with the EFL to ensure that when the league does resume, it will be safe for all players, staff and coaches involved.