The Premier League have decided to offer clubs part of the prize money that they were due at the end of the season in advance to help them ease any cash flow concerns amid the financial difficulties they are dealing with due to the coronavirus shutdown.
The Times report that the millions of pounds that various clubs are due at the end of the season will be handed out in advance to help to make up for revenue that would have been received from live TV broadcasts
In normal circumstances, this would be decided on merit payments based on the position teams finish in the Premier League table.
However, it was reportedly agreed in last Friday’s meeting that a portion of those funds would be released early to help clubs navigate the difficult circumstances that they are facing.
Clubs have seen all their revenue streams, including matchday and TV revenue, stop abruptly and there is a lot of uncertainty surrounding if and when the season will resume.
So it is thought that these funds would give many clubs much-needed reprieve in this uncertain climate.
While it has not been disclosed how much each club will receive, it is revealed that a further payment will be made at the end of the season.
Spurs Web Opinion
This is a good decision from the Premier League as it should help some clubs in continuing to pay their staff until normalcy resumes in the footballing calendar. Hopefully, on the back of this decision, Tottenham decide to reverse their decision to furlough their staff.
Keep up to date with all the latest Tottenham news and opinion by following SpursWeb’s Facebook, Twitter and Instagram accounts.
