Premier League clubs ‘resist EFL bailout plea for £250m to help struggling clubs as Championship owners are worth combined £32BILLION’ with talks ongoing
- EFL clubs are in desperate need for a cash bailout amid the coronavirus crisis
- A previous meeting between Premier League and EFL didn’t reach a resolution
- Several League One and Two clubs are struggling to pay stars’ wages this month
- Premier League clubs have less sympathy with wealthy Championship owners
Premier League club bosses are resisting the demand of a £250million bailout for the EFL as Championship owners are worth more than £32billion combined.
Rick Parry, chairman of the EFL, claims the Championship, League One and League Two sides need an injection of £250m to survive the financial damage cause by coronavirus and has met with Premier League chief Richard Masters to discuss a package.
But figures compiled by the Sun show the huge riches available to some below the Premier League, with Championship owners topping £32bn in value.
Premier League chief Richard Masters is in talks over a bailout package for the EFL
The figure excludes the £7.72bn fortune of steel magnate Lakshmi Mittal, who owns a third of QPR.
The wealthiest on the list of Championship club owners is the consortium in charge of Barnsley worth £7bn.
So the £250m required would only be a fraction of that number, 0.77 per cent to be precise.
Stoke, Sheffield Wednesday, Coventry, Blackburn, Bristol City, Cardiff, Preston and Reading all have billionaire owners.
Barnsley and Coventry City are both Championship sides with billionaire owners
EFL chairman Rick Parry is asking for £250million to help club that are at risk of going under
And there is more sympathy from Premier League clubs for teams in League One and League Two who do not have anywhere near that level of backing.
There is a very real possibility a number of them could go out of business, particularly without the prospect of fans coming back into stadiums.
Next Tuesday there will be another virtual shareholder meeting where the bailout is discussed further.
An agreement could not be reached in the previous meeting but there is a will from the Premier League to help those who need it most in the lower divisions.