LEAGUE One and Two clubs will receive £50m from the Premier League as part of a coronavirus rescue package agreed today.

Top-flight sides approved the measures to help English Football League (EFL) clubs through the financial challenges arising from the pandemic.

Leagues One and Two will get a £50m fund in the form of a grant and monitored grant payments, while the Premier League will help the EFL secure a £200m interest-free loan for Championship clubs.

The deal had already been approved by the EFL board, acting on behalf of its membership.

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EFL Chair, Rick Parry, said: “Our over-arching aim throughout this process has been to ensure that all EFL Clubs survive the financial impact of the pandemic. 

"I am pleased that we have now reached a resolution on behalf of our Clubs and as we have maintained throughout this will provide much needed support and clarity following months of uncertainty."

Richard Masters, Premier League chief executive, said: “The Premier League is a huge a 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.

“All football clubs continue to suffer significant financial losses as a result of the pandemic, but Premier League shareholders today unanimously agreed to provide additional funding and support for EFL clubs in real financial distress.

“We are very pleased to have reached this agreement and we stand together with the EFL in our commitment to protect all clubs in these unprecedented times.”