Reply With QuoteWhat has Gareth done wrong?
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Premier League agree £250m EFL bailout in huge boost
What has Gareth done wrong?
Lol, he could fund the EPL on his ownOriginally Posted by Eric the Half a Bee
What are the Premier league getting for their 250 million?
It’s a loan which will be paid back at some stage so short term it will get them out of the spotlight.
Would be interesting to know the terms and conditions of the loan.
I think it's an interest free loan to the championship, but i bet they were shitting themselves when the government came up with a tax on transfers and agent fees if they don't sort this mess out.
I think the Welsh clubs will pull on it as I can't see Welsh Government bringing back fans anytime soon, if at all this season.
I think English clubs will see a more relaxed approach to fans returning not sure how that finances the loss of revenues that match day brings to a club .
The pick of the players the EFL can develop. Nice deal.
Good platform for loaning young players to develop their competitive skills within one of the best league pyramids in the world
The chairman of Coventry City was on Radio 5 Live this morning, and was quite dismissive of this 'help'. He said that the Premier League are NOT lending the EFL £250m - all they are doing, is paying clubs' interest, if they borrow the money themselves. So, no hand-out, just a small amount of assistance with your interest repayments.
And secondly, he said that it could only be used to pay money owed to HMRC (ie. tax and NI). This sounded strange, but he insisted that was the case, and said that Coventry did not owe any money to HMRC, and so could not make use of the 'loan'.
In summary, then - the Premier are giving the EFL nothing, and the Premier is NOT loaning the EFL anything.
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