EFL closer to Premier League bailout deal but are unlikely to receive the £250m they want with Richard Masters and Rick Parry to hold further talks on Thursday
- 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
- But a willingness to hold more talks indicates both sides are eager to agree deal
- Several League One and Two clubs are struggling to pay stars’ wages this month
Premier League chief executive Richard Masters will hold talks with EFL chairman Rick Parry on Thursday over a cash bailout with lower league clubs asking for a £250million rescue package to get through the season.
Sportsmail has learned that a previous meeting between the Premier League and EFL took place on Tuesday without a resolution being reached, although their willingness to hold more discussions two days later indicates that both sides are eager to agree a deal that could safeguard the future of dozens of clubs.
Premier League clubs have made it clear they would prefer to make further progress in talks with government over the return of fans to stadiums before committing millions of pounds to their counterparts in the lower divisions, but with several clubs in League One and Two struggling to pay players’ wages this month there is a recognition that further delays could have devastating consequences.
EFL clubs have asked for a £250million rescue package to get through the current campaign
Whilst the Premier League are unlikely to grant the EFL’s request for a £250m bailout some form of transitional funding could be forthcoming.
As previously reported by Sportsmail any aid package would have strings attached, with the Premier League demanding EFL support for a liberal post-Brexit work permit policy, alignment with their spending rules and guarantees about implement cost-cutting measures such as a salary cap.
The EFL are growing resigned to the probability that the Premier League are unlikely to provide all the funding their clubs need to get through the season without gate receipts.
As a result the EFL are pursuing a package of measures, such as lobbying the government for the extension of tax holidays, and holding talks with private equity firms about a loan to distribute to the clubs.
Premier League chief Richard Masters will hold talks with EFL chairman Rick Parry on Thursday
Parry has admitted that many EFL clubs will struggle with fans not set to return anytime soon