Premier League to assist £200m interest-free loan to EFL Championship clubs

The EFL have accepted a £250million bailout offer from the Premier League after the top-flight clubs agreed to provide a more generous funding package to clubs in League One and League Two, according to Daily Mail. On Thursday the EFL Board voted to take the money on offer from the Premier League, which will be made available immediately to those clubs in the bottom two divisions in the greatest financial need. In addition to the support for Leagues One and Two, a further £200m will be made available in loans to clubs in the Championship seeking extra funding to pay their wages while the number of fans attending matches remains severely restricted. The Premier League has agreed to provide a payment commitment of up to £15m to to allow the EFL to secure a £200m loan facility that it will then lend to Championship clubs interest free up to a maximum of £8.33m per club. Source- Daily Mail

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