Coventry City and EFL clubs will meet to discuss future financial support from the Premier League after top-flight sides rejected Project Big Picture, with no new cash heading the Sky Blues’ way.
The proposal, put forward by Liverpool and Manchester United, would have seen £250m forwarded to EFL clubs to help them cope with the coronavirus pandemic, with 25 per cent of all future TV revenue also heading to EFL sides.
EFL chairman Rick Parry had backed the plan, but it was rejected by Premier League clubs on Wednesday amid accusations of a power grab over a change in voting rights.
However, Premier League clubs did agree on a £50m rescue package but only for League One and League Two sides, with £20m given out in grants and £30m placed in reserve to prevent any clubs from going bust.
However, no financial support has been confirmed for Championship sides like City.
Loans may be available for second-tier clubs though, and the Premier League and EFL will have further discussions on the matter following a meeting of EFL clubs on Thursday.
After the Premier League’s statement, the EFL put out their own, which read: “The EFL will meet with all EFL Clubs on Thursday to discuss the proposed financial support put forward today by the Premier League.
“The Premier League has written to the EFL in respect of a ‘much needed support package’ and provided details of an approved £50m grant and loan facility for League One and Two clubs only.
“In addition, the Premier League has requested further discussions with the EFL regarding the nature of this proposal and also on future, potential loan funding for Championship clubs in COVID-19 distress.
“The League will not be commenting further until it has discussed the elements of the proposal with its membership.
“The EFL notes the position of the Premier League in respect of today’s discussions with its clubs regarding the Project Big Picture proposals.
“As we have maintained across the past 72 hours, there is a significant issue facing the English footballing Pyramid and therefore it is encouraging that there is an acknowledgment that a review of the current status quo is required, with a strategic plan to be developed to consider the future of the football.
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“While by no means a finished product, Project Big Picture was developed to consider these same issues and address the challenges facing football from top to bottom.
“The EFL welcomes the opportunity to contribute to any wider debate with colleagues across the game as we seek to finally address impossible economic pressures and deliver on the objective of having a sustainable EFL in the long-term.”