LONDON: English Premier League clubs will receive some of the prize money due at the end of the season in advance to help them get through the cash crunch caused by the Covid-19 pandemic, the Times has reported citing sources familiar with the matter.
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Some of the funds that would normally be based on merit payments, which vary according to the final league table positions, would be released to clubs early, the report said, along with a portion of their ‘facilities fees’.
Facility fees are paid to clubs each time their matches are televised live.
The advances would range from several million pounds for clubs at the bottom of the table to more than £20 million for those at the top, the sources said.
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Football in England has been suspended indefinitely due to the coronavirus outbreak.
The Premier League has already received its broadcast revenue for the season from domestic and overseas rights holders although a portion of that may have to be refunded if the remainder of the season cannot be completed, the report said.
Several clubs, including Tottenham Hotspur and Newcastle United, have furloughed non-playing staff since the game’s suspension, while leaders Liverpool backtracked on their decision to take similar action in the wake of fierce criticism. – FMT