Tuesday, 20 October, 2020

England's lower league clubs reject Premier League aid

Lower-division clubs reject Premier League bailout | The State EFL rejects Premier League's COVID-19 bailout offer of £50m
Cary Erickson | 18 October, 2020, 05:50

Whilst the pandemic was the financial trigger which emboldened them to float their plan, the reality is that a combination of Premier League greed, financial recklessness, the pathetically inadequate Financial Fair Play rules and weak leadership from football's governing bodies has allowed many EFL clubs to live beyond their means for many years.

"This proposal - which consists of grants and interest-free loans totalling Stg50 million - aims to ensure that no club will go out of business as a result of the financial impact of COVID-19, and all will be able to complete the 2020/21 season".

The Premier League made the offer on Wednesday, specifying the cash was for rock bottom two tiers, League One and League Two, and not for second-tier Championship clubs.

He said: "It was far too little, too onerous in regards of the strings attached and didn't offer any real solution moving forward".

"I would like to remind the clubs that tried to do this via the back door and in a non-transparent way that the value of their clubs has grown significantly, perhaps four or five times their investment, since they bought thanks to the fantastic job of the Premier League executive and also thanks to the union of the clubs working together".

Despite Liverpool's part in the controversial project, Reds boss Klopp says he is pleased to see it sparking conversations about much-needed reforms of the sport during this time of "crisis". The offer is embarrassing.

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He said it was "decent" of the Premier League to leave the offer of support on the table, and added: "There may be some clubs that are in dire need and it may take too long for an alternative to come. I've been very defensive of the Premier League but I lost a lot of respect for them with that offer".

England's lower league clubs have rejected the Premier League's offer of a GBP50 million rescue package aimed at easing the financial fallout from the coronavirus.

Realistically, numerous EFL's wounds are self-inflicted and so Project Big Picture looked like a get out of jail free card to many of its clubs, but its real effect is actually likely to be to force the government and the Premier League to finally accept the urgency of the need to find a workable way of bailing out the EFL.

Vince also said his understanding was that the offer was conditional.

"The success of the Premier League is driven by this unity and the success of the clubs in working together, so if this is attacked and someone is trying to dismantle it we need to strongly defend it".