PREMIER LEAGUE clubs are reportedly set to be handed millions of pounds due to be awarded at the end of the season to help ease problems caused by the coronavirus outbreak.
According to The Times, 20 clubs agreed last week to release some of the funds that are paid out on a team’s final position in the table.
Premier League clubs are set to receive an advance payment to help ease the financial burden caused by the coronavirus pandemicCredit: Reuters
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They claim that will see each club receive an advance ranging from several million for those at the bottom to a sum of over £20m for the top sides.
That also includes a chunk of cash expected to be awarded as “facility fees” – a figure paid for each time a club appears on a live TV broadcast.
There is still a quarter of the campaign to be played but the Premier League has already received its broadcast income from overseas TV companies plus Sky Sports and BT Sport domestically.
That is different to both Germany and Spain, where £262m and £228m is still owed.
Sun Sport reported earlier how a domino effect could cause clubs to go bust in England due to their reliance on TV cash and owed transfer fees.
Today’s story states Premier League chiefs wanted to “strike a balance between helping clubs who have seen their matchday income fall off a precipice and being prudent in case the season cannot be finished or is delayed” which could lead to broadcasters demanding a rebate.
It was announced following last Friday’s meeting that the top flight would advance EFL clubs £125m but it was not disclosed whether it would give its own members an advance too.
Premier League chief executive, Richard Masters, warned it is facing a loss of at least £1billion if the season is not completed and that future losses will also occur if the pandemic worsens.
In a letter to MPs, he wrote: “The heavy losses that we face will have to be dealt with otherwise clubs and other enterprises that depend on football for income will go out of business.”
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Source: Soccer - thesun.co.uk
