Premier League agreed to provide 250 million pounds bailout package to EFL

The Premier League has reached an agreement with the English Football League (EFL) to provide for lower tier clubs struggling with financial problems due to the COVID-19 pandemic with a 250 million pound bailout package.

At a shareholders' meeting on Thursday, the Premier League clubs gave final approval to the agreement.

The Premier League said in a statement disclosed in a statement that a 50 million pound fund has been agreed in the form of a grant and monitored grant payments to provide to League One and Two clubs.

Besides that, the Premier League will offer a further financial commitment to help the EFL secure a 200 million pound loan facility that will allow Championship clubs to use interest-free services.