EPL bail out EFL

[BiggerBladeThanThou]

Looks like we've saved Pigs' arses....

"EPL agree to give EFL £1/4Bn rescue package"

 

[Working Class Hero]

And it didn't require 86 teams to hand power to the other 6, funny that.

 

[Isar]

Is it loans and grants? Meaning it has to be paid back.

 

[HoodedClaw]

Any money should only be provided to those that have kept within FFP rules.

 

[hidesbehindapseudonym]

Is it loans and grants? Meaning it has to be paid back.

Loan to 2024

 

[Isar]

Loan to 2024

I don't see how these clubs would be able to meet repayments. Most struggled financially pre-covid.

 

[Broomhall Blade]

Good luck getting that back from Wednesday.

 

[Champagneblade]

I don't see how these clubs would be able to meet repayments. Most struggled financially pre-covid.

Question is what if they don't?

Like the Wednesday situation. They get some sort of weird leniency ruling for selling off the family home having made little to no attempt to stay within the budget expected over the period.

What they should be doing with this bailout and P&S is not to somehow tee up some 11th hour hail mary pitch to hit the golden number after either 3 years or in the case of the fund, 2024 but yo be under constant supervision.

Not overspending for 3 years and trying to do a mass sell off when it fails, but by allowing an overspend in year three only when you've done a large underspend in years 1 and 2.

I guess the PL clubs will have thoughts on how to keep clubs in line. Reduced spending, need to offload promising youth players etc etc. All with a view to keeping the top flight a closed shop.

 

[Isar]

Question is what if they don't?

Like the Wednesday situation. They get some sort of weird leniency ruling for selling off the family home having made little to no attempt to stay within the budget expected over the period.

What they should be doing with this bailout and P&S is not to somehow tee up some 11th hour hail mary pitch to hit the golden number after either 3 years or in the case of the fund, 2024 but yo be under constant supervision.

Not overspending for 3 years and trying to do a mass sell off when it fails, but by allowing an overspend in year three only when you've done a large underspend in years 1 and 2.

I guess the PL clubs will have thoughts on how to keep clubs in line. Reduced spending, need to offload promising youth players etc etc. All with a view to keeping the top flight a closed shop.

It is not the job of the EPL to control spending of clubs in the EFL.
Whatever happens, clubs will take the money on offer now and worry about the repayments later.

 

[knowsnowt]

Let them eat cake.

 

[BiggerBladeThanThou]

Is it loans and grants? Meaning it has to be paid back.

Think £200m of it is.

 

[Isar]

Let them eat cake.

The peasants are revolting.

 

[knowsnowt]

The peasants are revolting.

Haha.

 

[Tynemouth Blade]

What's the betting that the Pigs will try and claim the maximum amount!

 

[petcharlie]

Any money should only be provided to those that have kept within FFP rules.

I agree any bent bastards who have bent the rules should go a take a running jump

 

[petcharlie]

It is not the job of the EPL to control spending of clubs in the EFL.
Whatever happens, clubs will take the money on offer now and worry about the repayments later.

well they can always sell their other assets like the taxi firm for a start.

 

[petcharlie]

The peasants are revolting.

yes very revolting,

 

[Working Class Hero]

I don't see how these clubs would be able to meet repayments. Most struggled financially pre-covid.

It's only loans for Championship clubs. League One and Two clubs don't have to repay it (as I understand it).

 

[CityInPeace]

Hi all, been a while.

Think there are good safeguards- agree on the FFP and eligibility points btw!

Loans generally don't help profit and loss which is what FFP based on- what's more, talking Championship here, they are to be paid back by the end of 2023/24 so that's 3 seasons from now, out of either Solidarity Payments, or EFL central awards if necessary. Actually anyone taking it, especially if they're financially badly run like some nameless sides at that level could actually end up worse off with FFP!

Loans can in rare circs, but most don't- and I don't see how this one would.

Maybe offsetting a fixed asset vs loans receivable but even that seems strange...but is nothing like that.

 

[Muttley]

Any club taking a handout should be banned from signing new players until it is paid back in full. Yes Chansiri. This means you!!!!!!

 

[CityInPeace]

Wouldn't disagree with that. Clubs wouldn't be helped with FFP by this loan but regardless it would help to put in place some level of safeguarding and force clubs to act responsibly.

It'll get paid back though one way or another I'd have thought- Solidarity Payments if necessary.

 

[Champagneblade]

Agree with the above. They should be used to stop clubs going to the wall and to meet their current requirements.

They should not be used to either fund that promotion push or give you the extra few million to sign that 15m striker you want but can't afford.

 

[Le Cynique]

They should be means-tested as well, so clubs with ultra-rich owners like Reading and Bournemouth can get to fuck.

 

[Bladesman]

Good debate on the PL and EFL: