EFL reject Premier League’s £50million bailout which ‘falls some way short’ of figure required to help struggling clubs survive
The English Football League have rejected the Premier League's proposed £50million rescue package for League One and League Two clubs.
At a shareholders' meeting on Wednesday, top-flight chiefs agreed to offer interest-free loans and grants to clubs in the third and fourth tier - but no funds were made available for Championship teams.
The money offered was on top of £27.2m already advanced in solidarity payments.
However, the EFL announced on Thursday evening that the bailout is insufficient while insisting that Championship clubs should be included as part of any offer.
The statement read: "EFL Clubs have today met by division to discuss the conditional offer put forward yesterday by the Premier League in respect to the financial support required as a result of the COVID-19 pandemic.
"The need for continued unity across the membership base was fundamental to discussions across all three divisions, and therefore there was a strong consensus that any rescue package must meet the requirements of all 72 Clubs before it can be considered in full.
"The League has been very clear in its discussions of the financial requirements needed to address lost gate receipts in 2019/20 and 2020/21, and while EFL Clubs are appreciative that a formal proposal has now been put forward, the conditional offer of £50million falls some way short of this.
"The EFL is keen to continue discussions with the Premier League to reach an agreeable solution that will address the short-term financial needs of all of our Clubs and allow us the ability to consider the longer-term economic issues in parallel that specifically look to achieve a more sustainable EFL for the future.
"There will be no further comment at this time."