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Breaking News Rescue package agreed!

crangoner

⭐⭐
Joined
May 6, 2018
Messages
1,321
Deal now official, £50 million in grants for L1 and L2, £200 million in interest-free loans for the Championship.

Support for Clubs in League One and League Two

The relief package will provide a combined fund of £50million for League One and League Two Clubs, with £30million to be paid to all 48 Clubs as a grant and a further £20million available on application as a ‘monitored grant’.

Details are as follows:

  • A £30million grant to be paid immediately from the Premier League to EFL Clubs for distribution based on lost gate receipts in respect of the 2019/20 and 2020/21 Season.
    • Each Club will receive a minimum payment of £375,000 in League One and £250,000 in League Two.
    • The remaining £15m to be distributed using a lost gate revenue share calculation, which will be approved by both the EFL and the Premier League.
  • In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.
    • Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.
    • Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.
  • Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations. https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed
 
Deal now official, £50 million in grants for L1 and L2, £200 million in interest-free loans for the Championship.

Support for Clubs in League One and League Two

The relief package will provide a combined fund of £50million for League One and League Two Clubs, with £30million to be paid to all 48 Clubs as a grant and a further £20million available on application as a ‘monitored grant’.

Details are as follows:

  • A £30million grant to be paid immediately from the Premier League to EFL Clubs for distribution based on lost gate receipts in respect of the 2019/20 and 2020/21 Season.
    • Each Club will receive a minimum payment of £375,000 in League One and £250,000 in League Two.
    • The remaining £15m to be distributed using a lost gate revenue share calculation, which will be approved by both the EFL and the Premier League.
  • In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.
    • Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.
    • Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.
  • Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations. https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed

and with that the embargo will be lifted! it will be interesting what the restrictions for the monitored grant will be
 
Deal now official, £50 million in grants for L1 and L2, £200 million in interest-free loans for the Championship.

Support for Clubs in League One and League Two

The relief package will provide a combined fund of £50million for League One and League Two Clubs, with £30million to be paid to all 48 Clubs as a grant and a further £20million available on application as a ‘monitored grant’.

Details are as follows:

  • A £30million grant to be paid immediately from the Premier League to EFL Clubs for distribution based on lost gate receipts in respect of the 2019/20 and 2020/21 Season.
    • Each Club will receive a minimum payment of £375,000 in League One and £250,000 in League Two.
    • The remaining £15m to be distributed using a lost gate revenue share calculation, which will be approved by both the EFL and the Premier League.
  • In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.
    • Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.
    • Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.
  • Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations. https://www.efl.com/news/2020/december/efl-and-premier-league-statement-rescue-package-agreed

I suspect that bit is to try to cater for clubs that spent beyond their means in the pandemic and have had the EFL bail them out already.
 

This should clear the way for Ron to pick up the phone to HMRC and agree a payment plan, for the embargo to be lifted and for Akinola to start Saturday.
 
And as if by magic, Bull sh it Bill will come to the rescue and save us yet again.....not!
 
Why the assumption that £250k will be sufficient to clear the debts?
I am trying to look on the up side of things personally. If we take a monitored grant it affects what you can do transfer wise and registration wise. Believe hence looking on the better side of things
 
Hardly generous in my humble opinion, when you think of all the money sloshing around in the Premier League.


£50 million is a lot of money - a very large sum by itself. Wow.

But then you compare it with income for clubs in the top division and the wages they pay and other expenditure and divide the sum by the number of clubs in Divisions 3 & 4 and suddenly I find myself in full agreement with Highlands Blue.

I don't want to be negative but if someone said that the calculation was to give the least amount of support possible then I wouldn't be surprised.

As each season goes by I move more towards a position of telling the Premier League to bugger off and simply have the Football League teams in our own cup competitions etcetera.

But for now I'll gladly take our share of the money ......... :Smile:
 
Why the assumption that £250k will be sufficient to clear the debts?

The assumption is that it will allow the club to agree the payment plan with HMRC.

Will we get treated as a L1 club or a L2 club? We were L1 when the pandemic hit.

Anyone have any more details on restrictions in relation to transfers and wages? A lot will depend on whether they take the base as pre-pandemic or as of now. We've shed a lot of wages since the pandemic began. If the base is taken as what our wages/income are now we're in trouble. If they are taken as what they are when we were a L1 team attracting 6000 a week we will have more head room than most.
 

This should clear the way for Ron to pick up the phone to HMRC and agree a payment plan, for the embargo to be lifted and for Akinola to start Saturday.

Indeed.
 
I wouldn't be too excited Ron will just pocket the money and blame something else for our demise. 250k will not go far when running a football club and probably wont be enough to clear debts. Its too little too late.
 
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