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EFL rejects Premier League’s COVID-19 bailout offer of £50m

According to EFL, the 3 divisions below the Premier League which is represented by the name of English Premier League has officially rejected a massive amount of 50 million (65 million) which was a bailout covid-19 offer from the topmost flight.

The Premier League made the offer on Wednesday, specifying the cash was for rock bottom two tiers, League One and League Two, and not for second-tier Championship clubs.
Yet after a gathering of its member clubs on Thursday, the EFL said it wanted a deal which covered all of its teams.

According to a statement released by EFL, it was necessary that the requirements in terms of rescue package must be equal for all the 72 clubs before it is approved.

The financial requirements have been discussed thoroughly by the League in order to discuss and address the lost receipts in 2019-20 and 2020-21, it is appreciated by the EFL clubs that a proper proposal has now been suggested, the conditional offer of £50 million falls how in need of this.”

The offer from the Premier League was a mixture of grants and interest-free loans aimed toward helping clubs as they struggle with a scarcity of matchday revenue caused by restrictions thanks to COVID-19.

It has been reported that there were discussions to find more agreeable solutions and more long term solutions from the EFL with the Premier League.

The Premier League said its offer remains on the table and it had been able to engage with the EFL and would ask any of its clubs in immediate risk thanks to the crisis.
The general public face of ‘Project Big Picture’ is the chairman of EFL Ricky Parry, backed by Liverpool and Manchester United, which was rejected by Premier League clubs on Wednesday.

Parry’s plan proposed a £250 million “rescue package” for the EFL but was tied to a series of reforms which might have increased the facility and revenue share of the highest clubs within the Premier League.
That proposal was opposed by the Football Association and therefore the UK government also as supporters groups then the Premier League clubs themselves.