EFL Confirm Short-Term Financial Aid Package to Support Member Clubs as Coronavirus Hits Hard

​The EFL have confirmed that a £50m short-term relief package has been created in an attempt to help support clubs that are being impacted by the coronavirus outbreak.  

With the coronavirus continuing to spread, the decision was taken to suspend all Premier League, EFL, and Women's Super League action until at least 4th April.  

However, this will, of course, have an impact on clubs, especially those lower down the leagues. But the EFL have now taken to their ​official website to provide an update on how they plan to proceed. They explained that the primary goal is to deliver a 'successful conclusion' to the current campaign. 

The statement read: "The primary objective, in order to protect competition integrity, is to deliver a successful conclusion to the 2019/20 season, subject to the over-riding priority around health and well-being. Plans continue to be developed on the agreed principle that it is in the best interests of the EFL and Clubs to complete the current season at the appropriate time.

"The EFL is continuing regular dialogue with the Government and relevant health authorities and, as and when more information is known regarding the scale and extent of the coronavirus outbreak in this country, a decision will be taken on the resumption of the League’s fixtures.

"Conversations will continue with the EFL’s counterparts at the FA, the Premier League, the PFA and the LMA to ensure football achieves a joined-up and collaborative approach."

The EFL also confirmed that a £50m relief package has been created to help support member clubs that are currently suffering.

"As part of the League’s continued contingency planning, the Board heard the comments and observations from EFL Clubs, before discussing a number of issues including the current financial position and implications, insurance, regulatory matters and broadcasting arrangements.

"Discussions centred on financial relief for Clubs in the short term and while there is no one single solution, measures are to be put in place to immediately assist with cash flow via a £50million short-term relief package.

"This fund consists of the remaining Basic Award payments being advanced to Clubs immediately, with the remainder made up through interest-free loan facility available to Clubs, calculated in line with the EFL’s Article of Associations.

"The cash injection is included as part of a series of measures, that includes potential Government support to help Clubs and their associated businesses through this period of uncertainty. The EFL welcomes last night’s announcement made by the Chancellor of the Exchequer, and is continuing discussions to understand how our Clubs can access the funding made available to support businesses.

"In addition, we will continue our discussions with our football partners to determine how we can all get through this difficult, challenging and unprecedented situation."

Elsewhere, the EFL also revealed that they are continuing to monitor the threat posed by the coronavirus pandemic, and its implications on clubs.