Premier League and EFL agree rescue package amounting to £250m

[Metalmicky]

As titled...

https://www.bbc.co.uk/sport/football/55172426

[big fat yorkshire pudding]

Is that going to even scratch the surface?

I would though say it's a major step forward.

[Dutch Uncle]

At least it sounds like it is all grants and no loans forDivisions 1 and 2 which is what DM and GB wanted.

[Branton Rover]

Best news of 2020 all we wanted is a team to support going forward

[Lincoln Rover]

Let’s see what Gavin says after he and others find the figures behind the headlines. Initially sounds good. I agree at this time our little clubs survival is paramount. RTID

[CoppsChop]

Great news, hope it can protect the budget and some jobs and maybe even allow us to strengthen in January.

[Campsall rover]

Let’s see what Gavin says after he and others find the figures behind the headlines. Initially sounds good. I agree at this time our little clubs survival is paramount. RTID

Little club. You must be referring to Lincoln City. 
DRFC little. We are not that Pub Team we once were Derek. 

[silent majority]

Its a step forward for sure, but it's not a panacea. I've lost count of the many hours of talking and email exchanges that the VSC have had with the club over the last 8 months in the hope that we can help keep the club afloat, and that we never came anywhere near the catastrophic events of some of our relatively recent history. So, this news, which in fairness is the same package they offered LG1 and LG2 clubs months ago, is good news, but nothing more than we need. Its replacing some of the gate revenue we've lost, nothing more than that.

The details are;

•   A £30million grant to be paid immediately from the Premier League to EFL Clubs for distribution based on lost gate receipts in respect of the 2019/20 and 2020/21 Season.
       o   Each Club will receive a minimum payment of £375,000 in League One and £250,000 in League Two.
       o   The remaining £15m to be distributed using a lost gate revenue share calculation, which will be approved by both the EFL and the Premier League.
•   In addition, a further £20m ‘Monitored Grant’ is to be provided with Clubs able to apply for it based on ‘need’, with a joint EFL and Premier League panel to determine Club eligibility.
      o   Clubs subsequently in receipt of a ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.
      o   Clubs who keep to the restrictions will not have to repay any of the funding required, whereas for Clubs in breach, the ‘monitored grant’ becomes repayable by the Club.
•   Any Club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations.

[DonnyBazR0ver]

Definitely welcome and good that there's some constraints in this, hopefully limiting the risk of clubs receiving grants for being poorly managed rather than losses as a result of the Covid crisis.

We can have no idea how this will effect what we can or can't do in January but I have every confidence the club can make the best out of the situation.

[steve@dcfd]

Definitely welcome and good that there's some constraints in this, hopefully limiting the risk of clubs receiving grants for being poorly managed rather than losses as a result of the Covid crisis.

We can have no idea how this will effect what we can or can't do in January but I have every confidence the club can make the best out of the situation.

It appears the biggest thing hanging over our clubs finances that could affect any business at all is the £ 1m in refunds to supporters and sponsors if we can’t get crowds back. Gavin mentions this every time he has done an appraisal of the bail out monies.

[rich1471]

The Premier League will pay up to £15m to help the EFL secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024, what will happen if the club get relegated and cannot afford to pay it back, yo-yo clubs like Barnsley and Rotherham it must me a worry to borrow the money or what if a chairman gets the money and leaves someone else to pay it back 

[DonnyBazR0ver]

The Premier League will pay up to £15m to help the EFL secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024, what will happen if the club get relegated and cannot afford to pay it back, yo-yo clubs like Barnsley and Rotherham it must me a worry to borrow the money or what if a chairman gets the money and leaves someone else to pay it back 

I guess they have to think very carefully about the amount they need to loan.

[graingrover]

The rebates owed to supporters for season ticket match losses is where club loyalties  from fans will be needed .I do not live locally so cannot gauge the comparative  economic regional  impact but judging from Gavin’s comments in interviews the fans have been very supportive to date .The players too .

[EasyforDennis]

The rebates owed to supporters for season ticket match losses is where club loyalties  from fans will be needed .I do not live locally so cannot gauge the comparative  economic regional  impact but judging from Gavin’s comments in interviews the fans have been very supportive to date .The players too .

Rebates owed to supporters and club loyalty from supporters should not be judged on whether they can afford to give this money up. Many fans will be suffering financially during this pandemic and may not be able to donate their season ticket money to the club. This doesn't mean they are any less loyal.

[DonnyBazR0ver]

The rebates owed to supporters for season ticket match losses is where club loyalties  from fans will be needed .I do not live locally so cannot gauge the comparative  economic regional  impact but judging from Gavin’s comments in interviews the fans have been very supportive to date .The players too .

Rebates owed to supporters and club loyalty from supporters should not be judged on whether they can afford to give this money up. Many fans will be suffering financially during this pandemic and may not be able to donate their season ticket money to the club. This doesn't mean they are any less loyal.

Agreed. I'm sure the club will provide sufficient options for everyone. I would imagine carrying forward whatever is owed to next season, and poss beyond, would be favourable however, we have to be prepared for those who may not be in a position to do that.

We've been here before however, we need to know when we can start allowing fans back in and what numbers beyond tier 2 and tier 1 etc.

[deebee]

My family and I will NOT be asking for any money back. We have already written it off as if we had been attending games. We hope many others will do the same.

[since-1969]

My family and I will NOT be asking for any money back. We have already written it off as if we had been attending games. We hope many others will do the same.

Though your view on the pandemics impact on the Rovers is commendable, it’s your view only and what has been previously stated,  but many have found themselves and their families also impacted and simply writing off cash that could have been refunded to them  as the club is seeking compensation for such out comes , had to be seen from another’s situation or point of view  and not simply an individual  supporters loyalty or their willingness to donate their entitlement to a refund for season tickets and not used car parking permits back to the club . This should be a private matter and not a matter for debate on a forum .

[keith79]

The Premier League will pay up to £15m to help the EFL secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024, what will happen if the club get relegated and cannot afford to pay it back, yo-yo clubs like Barnsley and Rotherham it must me a worry to borrow the money or what if a chairman gets the money and leaves someone else to pay it back 

take the money and leave it in the bank. Pay it all back on the last day. Easy money earned with the interest

[roversdude]

Since 1969 I agree it’s individual circumstances but if there is a way that the club can gauge the extend of their liability it must help. I’m happy to forego any type of rebate

[silent majority]

The Premier League will pay up to £15m to help the EFL secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024, what will happen if the club get relegated and cannot afford to pay it back, yo-yo clubs like Barnsley and Rotherham it must me a worry to borrow the money or what if a chairman gets the money and leaves someone else to pay it back 

take the money and leave it in the bank. Pay it all back on the last day. Easy money earned with the interest

Interest? What rate do you think you can get?

By the way, this isn't free money that just sits there waiting to be spent, its money that is used on a daily basis to keep the club running. Players still need paying, as do utilities, IT functions, staging of matches etc.

[Spud]

My family and I will NOT be asking for any money back. We have already written it off as if we had been attending games. We hope many others will do the same.

Same here. Bought st's for the first time in years this season, partly in the hope that some fans might get in, but mainly to do what bit I could to help the club out. Don't lose any sleep over mine Gavin

[rich1471]

The Premier League will pay up to £15m to help the EFL secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024, what will happen if the club get relegated and cannot afford to pay it back, yo-yo clubs like Barnsley and Rotherham it must me a worry to borrow the money or what if a chairman gets the money and leaves someone else to pay it back 

take the money and leave it in the bank. Pay it all back on the last day. Easy money earned with the interest

Interest? What rate do you think you can get?

By the way, this isn't free money that just sits there waiting to be spent, its money that is used on a daily basis to keep the club running. Players still need paying, as do utilities, IT functions, staging of matches etc.

Coventry City chief executive Dave Boddy says his club cannot benefit from a £200m rescue package agreed with the Premier League for Championship clubs.

The interest-free loan is part of an overall £250m EFL package, by which League One and League Two clubs will share a non-repayable £50m grant.

But Boddy says the loan to Championship clubs must be used to cover any PAYE debt - and Coventry do not have any.

"As clubs we haven't really been consulted on it," he said.

Premier League & EFL agree £250m rescue package
EFL clubs feel 'abandoned' - Dave Boddy
"It doesn't do a lot for Coventry City. It's not even a loan from the Premier League. They're covering the interest. The EFL has to source the loan," he told BBC Radio 5 Live.

"The problem we have with it as a club is that we can only use it to pay PAYE [income tax and national insurance] debt and we haven't got any.

"With no match day income for nearly 12 months we have a need for cash for the business. Not sure how true this is , from the bbc

[silent majority]

I don't think he's correct there rich.

They don't have any PAYE debt? Every club has PAYE debt because the government gave all clubs dispensation on PAYE at the start of the pandemic. The debt is still there, it just hasn't been called in yet.

[rich1471]

For me it was the bit were he said the money can only be used to pay P.A.Y.E and national insurance , it must also  help them pay other dept or wages they have   

[keith79]

The Premier League will pay up to £15m to help the EFL secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024, what will happen if the club get relegated and cannot afford to pay it back, yo-yo clubs like Barnsley and Rotherham it must me a worry to borrow the money or what if a chairman gets the money and leaves someone else to pay it back 

take the money and leave it in the bank. Pay it all back on the last day. Easy money earned with the interest

Interest? What rate do you think you can get?

By the way, this isn't free money that just sits there waiting to be spent, its money that is used on a daily basis to keep the club running. Players still need paying, as do utilities, IT functions, staging of matches etc.

thought it was an interest free loan

[rich1471]

The premier League cover the interest on the loan , but any money owed must be paid back by 2024 , not sure what happens if they don't

[NickDRFC]

I don't think he's correct there rich.

They don't have any PAYE debt? Every club has PAYE debt because the government gave all clubs dispensation on PAYE at the start of the pandemic. The debt is still there, it just hasn't been called in yet.

Just because dispensation was given doesn’t mean that all clubs would have taken it up, though? Maybe Coventry have been paying their payroll taxes so it would be true they don’t have any debt. Questionable business decision if they have done that, but it’s possible?

[silent majority]

I don't think he's correct there rich.

They don't have any PAYE debt? Every club has PAYE debt because the government gave all clubs dispensation on PAYE at the start of the pandemic. The debt is still there, it just hasn't been called in yet.

Just because dispensation was given doesn’t mean that all clubs would have taken it up, though? Maybe Coventry have been paying their payroll taxes so it would be true they don’t have any debt. Questionable business decision if they have done that, but it’s possible?

It is possible, but I'll check with the Sky Blues Trust and see what they say.