Following lengthy negotiations The EFL and the Premier League have agreed a rescue package and distress fund to address the immediate financial challenges faced by EFL clubs arising as a result of the Covid-19 pandemic.
A fund of £50m in the form of a grant and monitored grant payments has been agreed for League One and Two clubs while the Premier League will provide a further financial commitment to assist the EFL in securing a £200m loan facility that Championship clubs will be able to utilise interest free.
No club will receive more than £8.33million, and the facility is to cover PAYE liabilities only, up to the end of June 2021. The EFL will be responsible for ensuring loans are repaid before June 2024.
This fund will not be open to Championship clubs who are in breach, or suspected to be in breach, of EFL financial regulations, and clubs in receipt of a loan will be required to maintain compliance with those regulations.
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