Premier League agrees to £ 250m package for smaller clubs

LONDON (AP):

The Premier League agreed to a rescue package yesterday worth PS 250 million to ease the financial burden on lower-division teams in English football as a result of the coronavirus pandemic.

After months of negotiations, Premier League clubs gave their approval for a loan of PS 200 million that second-division Championship clubs will be able to utilise interest-free.

A fund of 50 million pounds will go to clubs in League One and League Two - the third and fourth divisions.

"Our commitment is that no English Football League club need go out of business due to COVID-19," said Premier League Chief Executive Richard Masters, noting the importance of the lower-division clubs to their communities.

The Premier League has committed to cover up to 15 million pounds in interest and arrangement fees to enable the loan to be secured for Championship clubs, which will allow them to meet their tax liabilities up to June 30, 2021.

The British government has consistently said that the Premier League - rather than the taxpayer - must provide assistance to lower-league clubs, who have been stricken primarily by their inability to have fans in stadiums since March because of social restrictions amid the coronavirus outbreak.

Limited numbers of supporters are being allowed to return to grounds from this week, depending on the rate of infection in the local area.

"I'm glad that football has come together to agree this substantial package," said Oliver Dowden, Britain's culture secretary. "Fans are starting to return and we look forward to building on this as soon as it's safe.

"With a PS 250-million support package for men's elite football and PS 300-million government funding for women's football, the National League and other major spectator sports, we have fuel in the tank to get clubs and sports through this."