Published 17:39 IST, April 9th 2020
Premier league clubs to receive prize money in advance as financial boost amid crisis
The 20 Premier League clubs are set to receive a financial thrust two months in advance to manage the situation caused by the coronavirus outbreak.
- SportFit
- 3 min read
A Premier League financial boost could be on the cards amid the unprecedented spread of coronavirus which has caused a standstill in football. In order to help clubs in this time of crisis, the Premier League financial boost that is given to clubs at the end of the season will be released two months earlier. Reports claim that each club in the English top flight will receive the Premier League financial boost, a substantial amount which is the prize money given to teams at the end of the campaign.
Premier League financial boost: Matt Hancock Praises Players Together Initiative
Health secretary Matt Hancock urged footballers to play their part amid the coronavirus in UK crisis. Matt Hancock suggested that Premier League footballers should take a pay cut in their wages to divert funds towards those impacted by the coronavirus pandemic. Liverpool captain Jordan Henderson decided to link up with the other 19 Premier League captains to create a 'Players Together' fund for the NHS workers in dire need of immediate financial aid. Matt Hancock praised the decision by the Premier League players and their coming together for the 'Players Together' fund. Here is his statement of gratitude towards the 'Players Together' initiative.
ALSO READ: Manchester United, Juventus Interested In Signing James Rodriguez From Real Madrid: Report
Coronavirus in UK: Premier League financial boost
The Premier League financial boost will be offered to all the 20 Premier League clubs in assistance for their cash flow problems. With no matchday revenue, along with no sponsorship and TV revenue, clubs are reportedly finding it difficult to manage their outflow of cash which includes paying their staff members and players. According to reports from The Times, it has not been disclosed as to how much each club will receive through the Premier League financial boost, however, runaway leaders Liverpool are expected to collect over £20million ($24million). The financial encouragement towards other clubs will vary upon their current standings on the Premier League table.
Updated 17:39 IST, April 9th 2020