Premier League, EFL agree £250m virus rescue package

Premier League, EFL agree £250m virus rescue package

FOOTBALL authorities have agreed a plan of entry requirements for overseas players with the government under the United Kingdom's post-Brexit system.

The financial agreement follows months of negotiations between the two football governing bodies, who had been strongly criticised for their failure to reach a deal.

The Premier League has been unable to secure the continuation of the free movement of players from Europe after Brexit, with a new points system being adopted for all worldwide transfers.

A joint statement from the FA, Premier League and EFL read: "Players accumulating the requisite amount of points will earn a GBE automatically, while players just below the threshold may be considered for a GBE by an Exceptions Panel".

Premier League clubs will be allowed to sign a maximum of three Under-21 players in January and will be limited to six per season.

'We welcome the news that the Home Office has approved the Governing Body Endorsement plan for the January 2021 transfer window.

THE PREMIER LEAGUE and the EFL have agreed a £250 million (€277m) rescue package to protect lower-league clubs from going under amid the coronavirus pandemic.

The Premier League has committed to cover up to £15 million in interest and arrangement fees to enable a £200 million loan to be secured for Championship clubs.

"The solution will complement our philosophy of developing players of the best foreign talent alongside the best local players". While the limitations on signings from overseas will hopefully put an end to the loathed practise of stockpiling players by cash-rich clubs, as well as potentially improving the development of homegrown talent, the arrangements could end up strongly favouring the top Continental clubs in terms of snapping up Europe's most promising stars at a young age.

"The Premier League has worked with the FA to reach an agreement that ensures no part of Brexit will harm the success of the Premier League or the English teams", he explained.

However, under the new rules, clubs will no longer be allowed to sign overseas players until they turn 18.

Premier League chief executive Richard Masters said: "The Premier League is a huge supporter of the football pyramid and is well aware of the important role clubs play in their communities".

"Our commitment is that no EFL club need go out of business due to Covid-19", he said. "Following the January transfer window, we look forward to reviewing the agreement with The FA".

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