Premier League clubs are reportedly set to be handed part of their end of season prize money in a bid from top flight officials to help ease the financial burden caused by the coronavirus crisis.
Last week, all 20 top flight sides agreed to be given part of their cash allocation – which varies according to their final position in the league standings.
The Premier League is currently suspended due to the coronavirus pandemic
According to The Times, the division’s top clubs can be given upwards of £20million, while the bottom sides still receive ‘several million’.
A chunk of money – known as ‘facility fees’ – will also be given to each club as payment for appearing on TV.
Sky, BT and overseas rights holders have already paid the Premier League for their full season’s broadcast rights, despite a quarter of the campaign left to play.
Spanish and German clubs have yet to be paid their full sum for broadcasting rights, with €300m (£262m) and €260m (£228m) still owed respectively.
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With coronavirus wreaking havoc on the sporting world and financially harming several top flight sides, it is believed Premier League officials are keen to find a balance between helping clubs who have seen their revenue drop whilst remaining meticulous in case the season is cancelled and broadcasters demand a rebate.
On Monday, the Premier League’s chief executive, Richard Masters, revealed that the global health crisis could cost clubs upwards of £1billion.
Masters said: “We face a £1billion loss, at least, if we fail to complete season 2019/20, and further losses going forward if the seriousness of the pandemic deepens and extends into the future.”
Give COVID-19 the red card
The quicker we work together to stop coronavirus spreading, the sooner we can get back into the pubs, the gyms and stadiums and arenas to see live sport again…
STAY AT HOME. Only leave for the following purposes:
- to shop for basic essentials – only when you really need to
- to do one form of exercise a day – such as a run, walk or cycle, alone or with other people you live with
- for any medical need – for example, to visit a pharmacy or deliver essential supplies to a vulnerable person
- to travel to and from work – but only where this is absolutely necessary
For more info and tips, visit the NHS website.
The government has also issued further detail on what we can do during lockdown.
Everyone should do what they can to stop coronavirus spreading.
“The furlough scheme announced by Government is meant for the whole economy, including many enterprises which might be regarded as providing entertainment or otherwise dependent on elite talent.
“Not only is our industry facing losses now, but to be realistic, we must also base our plans on full recovery being some distance away.”
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