Championship clubs set for cash injection after EFL secured £117.5m loan fund to help ease financial woes from coronavirus pandemic
- The hefty funding package was agreed with MetLife Investment Management
- The EFL said on Monday the money will help clubs in ‘meeting PAYE liabilities’
- It follows a £50m package in December for clubs in League One and League Two
Championship clubs are set for a cash injection after the EFL secured a loan fund worth £117.5million.
The funding package, agreed with MetLife Investment Management, will help clubs in the second tier who have been affected by the coronavirus pandemic.
The EFL said on Monday night that the money would help Championship clubs in ‘meeting PAYE liabilities’.
Championship clubs will get a cash injection after the EFL secured a loan fund worth £117.5m
It follows a £50m package in December which was made available by the Premier League to help clubs in League One and League Two.
EFL chair Rick Parry said: ‘This month has marked an unwelcome anniversary with supporters now being unable to attend matches for a 12-month period.
‘This is therefore a much welcome, timely package of support for clubs who have continued to incur significant costs without generating anywhere near normal levels of revenue.’
The funding package will help clubs in the second tier affected by the coronavirus pandemic