EFL creates £50million 'short-term relief package' to help financially-hit clubs

Measures are to be put in place 'immediately' by the EFL to provide financial support to clubs who have been hit hard by the COVID-19 outbreak.

A £50m 'short-term relief package' will be part of a series of measures to help struggling clubs, while the EFL also say they are in talks with the government over potential access to the £330bn loan fund that was announced on Tuesday.

After its board met on Wednesday, the EFL said: "As part of the league’s continued contingency planning, the board heard the comments and observations from EFL clubs, before discussing a number of issues including the current financial position and implications, insurance, regulatory matters and broadcasting arrangements.

"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 facility available to clubs, calculated in line with the EFL’s Article of Associations.

"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.

"In addition, we will continue our discussions with our football partners to determine how we can all get through this difficult, challenging and unprecedented situation."

The EFL added that they remain determined to finish the 2019/20 season despite the ongoing coronavirus pandemic.

"The primary objective, in order to protect competition integrity, is to deliver a successful conclusion to the 2019/20 season, subject to the over-riding priority around health and well-being," continued the statement.

"Plans continue to be developed on the agreed principle that it is in the best interests of the EFL and clubs to complete the current season at the appropriate time.

"The EFL is continuing regular dialogue with the government and relevant health authorities and, as and when more information is known regarding the scale and extent of the coronavirus outbreak in this country, a decision will be taken on the resumption of the league’s fixtures.

"Conversations will continue with the EFL’s counterparts at the FA, the Premier League, the PFA and the LMA to ensure football achieves a joined-up and collaborative approach."