Richard Masters has said a £250m coronavirus bailout for EFL clubs would not be the best use of “scarce” Premier League funds. The chief executive of the Premier League is due to face MPs at a select committee hearing on Tuesday, when he will be expected to explain why a financial support package for the lower leagues has yet to be agreed. With the EFL asking for £250m, the total currently being offered by the Premier League adds up to around £80m, with much of it available only as loans, especially to clubs in the Championship. Speaking to the website Politico before the Department for Digital, Culture, Media and Sport committee meeting, Masters defended the size of his proposed deal. “Our offer goes to the issue of ‘need’ rather than ‘want’,” he said, “and where you have scarce resources in the current environment that has to be the right approach.” Masters points to estimated losses of £700m last season and projected losses of £100m this term as a reason for restraint in any bailout. At the same time, however, he argues that more than £1bn of transfer spending by his 20 clubs during the summer was a competitive necessity. “The… Read full this story
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