Published:9 December 2020
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.