Connect with us

Hi, what are you looking for?

Football Reporting
Football Reporting

Champions League

EFL secure £117.5million loan from MetLife Investment Management for Championship clubs


The English Football League (EFL) has secured a loan worth £117.5million from MetLife Investment Management for Championship clubs amid the Covid-19 pandemic.

The second tier has now played the equivalent of a full season behind closed doors with spectators yet to return to stadiums and the EFL said they have lost approximately 150 million pounds in income as a result.

The loan was agreed with MetLife after a bidding process and the EFL said the size of the loan matched the amount requested by Championship clubs.

Transfers

Man City confirm Aguero will leave this summer

Advertisement. Scroll to continue reading.

2 HOURS AGO

“This is… a much welcome, timely package of support for Championship clubs, whose operations have continued to incur significant costs without generating anywhere near normal levels of revenue,” EFL chair Rick Parry said in a statement.

“The support will be pivotal to clubs being able to re-evaluate their financial position and help them start to plot their way out of the pandemic and plan with greater certainty for 2021-22 when we are hoping for the return of fans in large numbers.”

In December, the top tier Premier League reached an agreement with the EFL to provide a £250m bailout package for lower division clubs struggling financially.

The Championship received an interest-free £200m loan while third-tier League One and fourth tier League Two clubs were awarded a 50 million pounds grant.

Women’s Champions League

Advertisement. Scroll to continue reading.

Lyon request UEFA to postpone PSG quarter-final due to Covid-19 cases

2 HOURS AGO

The Emirates FA Cup

One FA Cup semi-final to be used as test event for return of crowds

5 HOURS AGO



Source link

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

AC Milan

Belgium head coach Roberto Martinez has backed both Divock Origi and Charles De Ketelaere to make a big impact at AC Milan this season...

Transfers

The Blues need cover for at least six weeks with striker Dominic Calvert-Lewin again sidelined with injury, and there have been moves in the...

AC Milan

AC Milan have ruled themselves out of the race to sign winger Hakim Ziyech from Chelsea this summer, according to a report. It was...

Champions League

Carlo Ancelotti is now the only coach to have won all five major European Leagues. As well, he has won the Champions League four...