The Premier League and English Football League (EFL) have agreed a £250m rescue package to help ease the financial challenge faced by EFL clubs as a result of the coronavirus pandemic.

The EFL will be assisted in getting a £200m loan for Championship clubs.

A £50m grant has been agreed for League One and Two clubs.

The Premier League will pay up to £15m to help the EFL to secure a £200m loan which it will then lend to Championship clubs interest free.

Loans are capped at £8.33m per club and must be repaid by June 2024.

The £50m rescue package for Leagues One and Two is split into two parts - £30m will be paid to the 48 clubs as a grant based on missed gate receipts from the 2019-20 and 2020-21 seasons.

League One clubs will receive a minimum payment of £375,000.
League Two clubs will receive a minimum payment of £250,000.
The remaining £15m will be distributed using a lost gate revenue share calculation.
A further £20m monitored grant will be provided and clubs can apply based on need. A joint Premier League and EFL panel will determine club eligibility.

https://www.bbc.co.uk/sport/football/55172426