Rescue Package

https://www.grimsby-townfc.co.uk/news/2020/november/efl-statement---rescue-package/



EFL Clubs have today met by division and separately engaged in overwhelmingly positive discussions in respect of the proposed short-term rescue package currently being discussed between the EFL and Premier League.

The EFL membership have been united throughout the negotiation process that any support package must address the financial issues being experienced at all 72 Clubs before it could be considered in full and moved forward.

The EFL does note the previously stated Premier League position that it would engage with any EFL Club, including those in the Championship, that is suffering severe financial losses due to the pandemic.

Following a comprehensive debate in all three divisions, a collective agreement in principle was made to move forward and finalise the negotiations, with Championship Clubs making it clear today that they wanted to ensure their colleagues in League One and League Two received the proposed £50m financial support package to cover gate losses for 2019/20 and 2020/21 as soon as is practically possible.

Championship Clubs also acknowledged that discussions in respect of the levels of support they will receive will remain ongoing.

The EFL believes that today represents a significant step forward and is hopeful that a final agreement on the short term rescue package across all three divisions can be reached imminently which will provide much-needed support, clarity and certainty for all EFL Clubs at a time when they need it most.

In addition to finalising the short-term financial issues, Clubs were today informed that the EFL will contribute fully in the Premier League’s strategic review to consider the future structure and financing of English football, and will hopefully have a direct and positive impact on a more sustainable EFL in the future.

Ok......to play devils advocate.....as we have set up the season to run on virtually no income, have sold season tickets and had crowd funding to boost the coffers......potential further unaccounted income if Dembele moves on.....


Should we just bite the bullet and use any income from a bail out to pay a major chunk off our one significant outstanding loan ?

Quoted from moosey_club

Ok......to play devils advocate.....as we have set up the season to run on virtually no income, have sold season tickets and had crowd funding to boost the coffers......potential further unaccounted income if Dembele moves on.....


Should we just bite the bullet and use any income from a bail out to pay a major chunk off our one significant outstanding loan ?

Nah .... get a striker or two in.

Quoted from moosey_club

Ok......to play devils advocate.....as we have set up the season to run on virtually no income, have sold season tickets and had crowd funding to boost the coffers......potential further unaccounted income if Dembele moves on.....


Should we just bite the bullet and use any income from a bail out to pay a major chunk off our one significant outstanding loan ?

I mean that would be logical but that would also release the stranglehold somewhat and we all know that won’t happen...after all, significant payments have been made to a certain individual who hasn’t used them as payments against said loans already...

Perhaps the early mature has meant I’ve missed it but does it say how the 50million will be divided? And is it implying it’ll by 50m for league 2?

Quoted from aldi_01

I mean that would be logical but that would also release the stranglehold somewhat and we all know that won’t happen...after all, significant payments have been made to a certain individual who hasn’t used them as payments against said loans already...

What on earth are you waffling on about now. We all know you don't like Fenty. No need to lie to justify another post about him.

Quoted from aldi_01

I mean that would be logical but that would also release the stranglehold somewhat and we all know that won’t happen...after all, significant payments have been made to a certain individual who hasn’t used them as payments against said loans already...

Perhaps the early mature has meant I’ve missed it but does it say how the 50million will be divided? And is it implying it’ll by 50m for league 2?

It will probably be something like 70/30 so £15m for League 2.

I doubt it will be spread evenly. My guess is that clubs will have to show their accounts and takings for this season before a judgement is made as to who gets what.

As we are supposedly well run I would expect us to get a lower amount than most clubs.

Quoted from jamesgtfc

It will probably be something like 70/30 so £15m for League 2.

I doubt it will be spread evenly. My guess is that clubs will have to show their accounts and takings for this season before a judgement is made as to who gets what.

As we are supposedly well run I would expect us to get a lower amount than most clubs.

It’ll be done on average attendance. It’d hardly be fair to punish us for being prudently run.

If were are being run prudently and can get through the season, and the handout is a loan,depending on the interest rate and payment time, should we really take it, now if it was a grant.

Quoted from pontoonlew

It’ll be done on average attendance. It’d hardly be fair to punish us for being prudently run.

I don't think it will be done on that alone. iFollow revenue is plugging some of the gap and how much it plugs will vary club to club. Season tickets were non-refundable so again, that plugs some of the gap and will again vary club to club.

Some clubs will still be miles over the salary cap, particularly ones like Scunthorpe who went on a spending spree before it was announced.

The aim of this rescue package is to stop clubs going under so I think our prudent financial management will see us receive very little.

Perhaps they'll pay the players their full wage now with it.