League One clubs REJECT Premier League bailout offer

Clubs in League One and Two have rejected the Premier League's rescue package.

The top flight held a meeting on Wednesday in which clubs poured cold water on Project Big Picture, a set of proposals devised by Manchester United and Liverpool that would have radically shaken up the English game.

However, the Premier League did agree to offer a rescue package of £50million to League One and Two, made up of grants and loans, while talks continued with the Championship.

But that offer has been rejected by EFL clubs. The Athletic has reported that some clubs described it as 'disgraceful', 'derisory' and 'playground tactics'.

The EFL confirmed: "EFL Clubs have today met by division to discuss the conditional offer put forward yesterday by the Premier League in respect to the financial support required as a result of the COVID-19 pandemic.

"The need for continued unity across the membership base was fundamental to discussions across all three divisions, and therefore there was a strong consensus that any rescue package must meet the requirements of all 72 Clubs before it can be considered in full.

"The League has been very clear in its discussions of the financial requirements needed to address lost gate receipts in 2019/20 and 2020/21, and while EFL Clubs are appreciative that a formal proposal has now been put forward, the conditional offer of £50million falls some way short of this.

"The EFL is keen to continue discussions with the Premier League to reach an agreeable solution that will address the short-term financial needs of all of our Clubs and allow us the ability to consider the longer-term economic issues in parallel that specifically look to achieve a more sustainable EFL for the future."