A recent article, here on Vital Luton Town, discussed the possibility of EFL clubs being given financial assistance.
Our article – lutons-ceo-ponders-over-the-financial-implications-of-covid-19 – accompanied by another article relating to a pertinent poll – hatters-support-believes-financial-assistance-should-be-forthcoming-for-efl-clubs = covered where this financial assistance may come from.
Thankfully, the realisation that some clubs could be hit hard financially by the COVID-19 crisis and could be forced out of business has been recognised by the EFL.
An article published by The BBC confirms that the EFL is to release a £50 million short-term relief fund to assist any club with cash-flow problems brought about by the lack of revenue through the gates.
Seemingly, each Championship club will receive an £800,000 award payment from the Premier League and also able to apply for a loan of £584,000 which will be interest-free.
There will also be a pro-rata share out, equivalent to £1 million for those clubs who have utilised home-grown players this season.
It is a move that will be welcomed by the clubs, but will it be enough to keep all the EFL clubs financially stable?
I’m afraid we can only wait and see.
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