Premier League Clubs Get £20m Stimulus PaymentsFeatured, Latest News, Sports Thursday, April 9th, 2020
(AFRICAN EXAMINER) – In relation to league positioning and television fees, Premier League clubs have been projected to receive sum of £20m in advanced payments, in an effort to ease their cash-flow problems.
The 20 clubs have agreed to the funding to cope with the lack of income because of the coronavirus crisis.
The partial release of “merit payments” is prize money that clubs would have received, while “facility fees” relate to how many matches each club had shown on live TV matches.
In addition, clubs will receive part of their funding for next season in the summer months.
The arrangement for this season’s advanced payments, was decided by the clubs at last week’s shareholder meeting.
Premier League football has been postponed indefinitely because of the spread of the coronavirus.
There will need to be adjustments made to these payments at the end of the season based on what the final table looks like.
The Premier League is understood to be facing potential financial losses of £762m in broadcast revenue if the season cannot resume.
Insiders have stressed that the release of merit payments should not be seen as an indication of an idea to end the season where it is now, and that the decision has been made to help clubs through this crisis.
Traditionally, clubs receive some funding at the beginning of a new season.
It is also understood that the intention is to pay clubs part of this funding for next season during the summer months, so as to again help tide clubs over during this period when the inflow has been affected.
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