Sport AFL set for $600 million rescue package

11:15  29 march  2020
11:15  29 march  2020 Source:   wwos.nine.com.au

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Payments for jobless workers would increase by $ 600 per week. Laid-off workers would get those The bill sets up a fund to support a new Federal Reserve program that offers up to .5 trillion in Loans are set aside for airlines, air cargo carriers, airline contractors and “businesses important to

The state government's support package comes on top of million from the federal government announced on Thursday for Hazelwood workers and the Latrobe Valley. The Commonwealth funding includes million for regional jobs and investment with the projects to be determined with the local

a man wearing a suit and tie smiling and looking at the camera: Gillon McLachlan © Getty Gillon McLachlan

The AFL are set to be boosted with a $600 million lifeline as the game manoeuvres its way through the coronavirus shutdown.

On Friday, the AFL and AFLPA ended their pay dispute with the players agreeing to terms on a 50 percent pay cut until the end of May.

At the conclusion of the May, the pay cut will increase to 70 percent if the season is to be delayed even further, but will revert to 50 percent once games kick-off again.

Pictures: Sporting events that have been cancelled or postponed due to coronavirus

Sporting events that have been cancelled or postponed due to coronavirus

AFL journalist Damien Barrett reports the league is now on the verge of securing a loan of up to $600 million which will allow the game to operate throughout 2020 regardless of whether or not matches are played.

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The industry is calling for an 0 million stimulus package to support the arts sector until crowds are able to return to their performances. "It remains to be seen how the state and federal emergency packages may be harmonised. However, there are some immediate concerns the state organisations

AFL . As Retail Food Group battles multiple regulatory investigations, including one launched on July 9, it has unveiled a do-or-die rescue package at a whopping five times its market value. In return, the banks have agreed to take a .8 million haircut, provide a new .5 million loan facility and

"Two major projects the AFL embarked on, one was to get the agreement of the players with their pay deal," Barrett said on Nine's Sunday Footy Show.

"The second project and this is the one I expect some announcement on some stage this week, that is a financial lifeline to the tune of up to $600 million to be given to the AFL."

"It's not a grant, it's not a gift, it's a loan. It will allow the AFL to operate throughout 2020 no matter what happens, we play games or we don't play games."

"The negotiations with the banks are still on-going, but it will be the done, the way I read it, at some stage next week."

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Virgin warns of price hikes under Qantas monopoly as bailout hopes stay alive .
Virgin Australia's chief executive has warned travellers will face higher prices if his airline collapses, as the carrier hangs on to hopes of a government bailout.The boss of the nation's number-two airline on Thursday disputed reports that the federal government was set to reject Virgin's request for a $1.4 billion loan and fast-track another carrier's entry into Australia. "That certainly hasn't been the message we've been getting from the government," he said. "We're continuing to work on that package.

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