Rescue package for League One and Two football clubs
Date published: 04 December 2020
Crown Oil Arena
A rescue package worth £50m has been announced for League One and Two football clubs – including Rochdale – by the EFL and the Premier League.
A total fund of £50m in the form of a grant and monitored grant payments has been agreed for League One and Two clubs: £30million will be divided between the 48 clubs as a grant and a further £20million will be available on application as a ‘monitored grant’, based on needs.
Rochdale and other clubs in League One will receive a minimum payment of £375,000 and clubs in League Two will receive £250,000, with the remaining £15m funds to be distributed between clubs using a lost gate revenue share calculation.
Rochdale AFC chief executive David Bottomley said: "Whilst this money is welcome, £375k is equivalent to just two months running costs for Rochdale."
Clubs subsequently in receipt of a further ‘monitored grant’ will be subject to certain restrictions, in respect to transfer spend and player wages.
Clubs which keep to the restrictions will not have to repay any of the funding required; clubs in breach of this will have to repay the ‘monitored grant’.
Any club in receipt of a grant or monitored grant payment will be required to continue to maintain compliance with the EFL’s financial regulations.
EFL Chair, Rick Parry, said: “Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic. I am pleased that we have now reached a resolution on behalf of our clubs and as we have maintained throughout this will provide much needed support and clarity following months of uncertainty.”
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