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Premier League clubs reject Project Big Picture; football revamp will not be endorsed by clubs or the FA
Premier League clubs have rejected the radical proposals of Project Big Picture after holding an emergency board meeting, but have promised to provide League One and League Two sides with an additional £50million rescue package.
Executives of all 20 Premier League clubs met via video conference on Wednesday morning to discuss the new plans, which were devised by Liverpool and Manchester United’s owners.
They aimed to provide the English Football League’s financial-hit clubs with a crucial £250m bail-out, plus 25 per cent of the top-flight’s TV revenue going forward, but at the cost of the Premier League’s ‘big six’ having greater power.
Under new proposals, Arsenal, Chelsea, Liverpool, the two Manchester clubs and Tottenham would have significant voting rights – and that sent alarm bells ringing among the Premier League’s other sides.
After a meeting on Wednesday, all 20 Premier League clubs agreed they would not be endorsed or pursed by the Premier League or the Football Association.
It was, however, agreed they would work as a collective to come up with a strategic plan to sort “the future structures and financing of English football”, with the need for transparency stressed after Project Big Picture was devised in secret.
This new project has the full support of The FA and will include engagement with all relevant stakeholders including fans, Government and the EFL.
Premier League clubs agreed that a rescue package will be made available for League One and League Two clubs to ensure none will not go out of business as a result of the financial impact of Covid-19 and so they will be able to complete the 2020/21 season.
This offer will consist of grants and interest-free loans totalling a further £50m on top of the £27.2m solidarity payments already advanced to League One and League Two this year, making a total of £77.2m. Talks over financial support for the Championship remain ongoing.
A Premier League statement read: “Football is not the same without attending fans and the football economy is unsustainable without them. The Premier League and all our clubs remain committed to the safe return of fans as soon as possible.”
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