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World The suffering of underclass clubs: Premier League puts together a rescue package

11:30  23 october  2020
11:30  23 october  2020 Source:   de.euronews.com

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The Premier League ’s proposed £50million rescue package for League One and League Two has been rejected by the EFL clubs . Following a shareholders’ meeting on Wednesday, the Premier League agreed to offer a loans and grants package to clubs in the bottom two divisions of the EFL

Fosun had tried to put together a rescue package for Thomas Cook, which if accepted would have increased the Chinese firm's losses. Under the management of Nuno Espirito Santo Wolves have won the Championship, reached the FA Cup semi-finals and finished seventh in the Premier League

Since football fans in England are still not allowed to return to the stadiums, the flow of money for many of the underclass teams is drying up.

Das - menschenleere - Stadion des Viertligisten FC Leyton Orient in London © Euronews / Angela Barnes The - deserted - stadium of fourth division FC Leyton Orient in London

And those who run it say that if the government does not act now, some clubs will soon disappear.

FC Leyton Orient plays in the fourth class English League Two. Club chairman and former executive in the food industry, Nigel Travis said, "I think some clubs are going to go broke. A couple of numbers: If you look at our original budget for this year, we have matchdays alone because there are no spectators, Lost 900,000 pounds just by people who didn't show up. On non-match days we rent the function rooms in our stadium. 250,000 pounds is a large number.

EXCLUSIVE: £150million PL loan offer to bailout EFL is REJECTED

  EXCLUSIVE: £150million PL loan offer to bailout EFL is REJECTED EXCLUSIVE BY MATT HUGHES: The offer of financial help, which was ordered by the Government to get football through the pandemic, is not a part of the Project Big Picture plan.The offer of financial help, which was ordered by the Government to get football through the pandemic, is not a part of the Project Big Picture plan which has rocked the game.

The European Premier League would reportedly have 18 teams and involve fixtures played during the regular European season with the top-ranked sides advancing to a They had gained the support of the EFL because they included a £250million rescue package for cash-strapped league clubs .

The EFL and Premier League would have to implement some very detailed guidance in an attempt to give clubs clarity in such circumstances. But a Premier League or Championship side may have 10 out on loan and they will want the money under those loan agreement.

Also, don't forget that we're due to Covid a lot of money for taking precautionary measures. Paying protocols. We drove to borough 10 days ago, we took 2 coaches with us. That cost £ 7,000 and normally it would be half that amount. "

Premier League puts together second rescue package

Euronews correspondent Angela Barnes commented in London: "The Premier League says they have a bailout for the League On clubs e and League Two wants to lace. This will consist of grants and interest-free loans totaling £ 50 million and will be provided in addition to the payments already made. But will the deal be enough to save them? "

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The former Scottish international Paul Lambert has been coaching the third division (League Two) Ipswich Town since 2018: '' It must everyone is singing from the same sheet of music to make it work, to make it go through. I don't know what it looks like financially, but £ 50m if I look at League One and League Two is nowhere near enough. "

If that is the case, it is questionable how long the show can go on with the high costs and without an audience.

Gary Neville makes plea to UK Government to help bail out EFL clubs .
Several of clubs below English football's top flight are facing severe financial issues due to reduced revenue through fans not being allowed into stadiums in the UK since March.Several of clubs below English football's top flight are facing severe financial issues due to reduced revenue through fans not being allowed into stadiums in the UK since March, with many facing a struggle to pay staff at the end of October.

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This is interesting!