Portsmouth, Sunderland, Ipswich and Co to receive share of £50m rescue package after Premier League and Football League reach agreement

The Football League and Premier League have today concluded negotiations to provide crucial financial assistance to member clubs left struggling following coronavirus.

As part of the agreement, Pompey and the other 47 clubs in League One and League Two will receive a share of a £30m grant.

In addition, a further £20m will be made available upon application to those clubs as a ‘monitored grant’.

Meanwhile, Championship clubs will be offered a £200m loan facility, with no interest on borrowing.

Interestingly for Pompey, a proportion of the £30m grant will be distributed calculated on lost gate receipts for the 2019-20 and 2020-21 seasons.

As one of the best-supported clubs in League One and League Two, the Blues are set to receive a substantial sum in recognition of being unable to host regular attendances of 17-19,000.

Regardless, each club will receive a minimum payment of £375,000 in League One and £250,000 in League Two.

In the statement, Football League chairman Rick Parry said: ‘Our over-arching aim throughout this process has been to ensure that all EFL Clubs survive the financial impact of the pandemic.

‘I am pleased that we have now reached a resolution on behalf of our clubs and as we have maintained throughout this will provide much needed support and clarity following months of uncertainty.

‘I would like to thank Richard Masters and Gary Hoffman for their efforts on behalf of the Premier League, and of course their shareholders, for making this welcome, tangible commitment to the professional game at a time when it has needed it most.’

Premier League chief executive Richard Masters added: ‘The Premier League is a huge supporter of the football pyramid and is well aware of the important role clubs play in their communities.

‘Our commitment is that no EFL club need go out of business due to COVID-19.

‘All football clubs continue to suffer significant financial losses as a result of the pandemic, but Premier League shareholders today unanimously agreed to provide additional funding and support for EFL clubs in real financial distress.

‘We are very pleased to have reached this agreement and we stand together with the EFL in our commitment to protect all clubs in these unprecedented times.’

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