Premier League and EFL agree £250m rescue package

'Our over-arching aim throughout this process has been to ensure that all EFL clubs survive the financial impact of the pandemic'

The news follows months of negotiations between the two governing bodies. Picture: Adam Davy/PA

The Premier League and the EFL have agreed a £250m rescue package to protect lower-league clubs from going under amid the coronavirus pandemic.

The EFL said a fund of £50m in the form of a grant and monitored grant payments has been agreed for League One and Two clubs while the Premier League will provide a further financial commitment to assist the EFL in securing a £200m loan facility that clubs in the second tier will be able to utilise interest-free.