All twenty Premier League clubs unanimously came to a conclusion to reject the “Project Big Picture” notion that reportedly included a major overhaul of the structure of the league and financial stature of the clubs. The proposal would have seen an increase in revenue for the 72 clubs but would have seen the number of clubs in the Premier League reduced to 18 from 20.
While the 72 clubs in the English Football League would have benefitted financially, the elite clubs of England would have obtained special voting rights.
As an alternative to save the teams of the lower divisions, the major stakeholders of the Premier League have agreed to set up a sustainable plan for the even financial structure of English football in whole. Apart from the stakeholders, the project will involve the FA, the UK government and EFL.
The organization released a statement claiming that neither of the Premier League teams nor the FA will endorse the “Project Big Picture”
“All 20 Premier League clubs today unanimously agreed that “Project Big Picture” will not be endorsed or pursued by the Premier League, or The FA.”
“Further, Premier League Shareholders agreed to work together as a 20-club collective on a strategic plan for the future structures and financing of English football, consulting with all stakeholders to ensure a vibrant, competitive and sustainable football pyramid.”
Premier League clubs to aid lower division clubs with rescue packages
England’s top division also claimed that they will be helping out the League One and League Two teams with rescue packages. The third and fourth division teams have suffered a great deal due to the onset of the coronavirus pandemic that brought football to a standstill.
The authorities released the financial details behind the rescue packages and their implementation.
“League One and League Two clubs rely more heavily on matchday revenue and have fewer resources at their disposal than Championship or Premier League clubs and are therefore more at risk, especially at a time when fans are excluded from attending matches.’
‘This offer will consist of grants and interest-free loans totalling a further £50million on top of the £27.2million solidarity payments already advanced to League One and League Two this year, making a total of £77.2million.”
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