Premier League clubs reject Project Big Picture, but agree bailout for League One and Two

Premier League clubs have rejected ambitious Project Big Picture, with clubs taking decision over a virtual meeting on Wednesday. However, while proposal for Project Big Picture was rejected, top-flight clubs agreed to create an emergency financial pack for League One and League Two teams. With Project Big Picture proposal rejected for w, multiple media reports have indicated that Man United and Liverpool owners will step up ir plans to set up a Euro Super League.

Also Read: Premier League 'Big Six' Plan To Reduce top-tier Teams, Scrap EFL Cup And Community Shield

Project Big Picture: What Premier League clubs said

Premier League in a statement on Wednesday revealed that all clubs unanimously agreed that Project Big Picture will t be endorsed or pursued by Premier League or Football Association (FA). statement also disclosed that all Premier League shareholders have agreed to collectively work toger on a strategic plan for future structures and financing of English football, in order to create a vibrant, competitive, and sustainable football pyramid. While concluding, Premier League statement expounded that all clubs will work collaboratively and transparently, with project having full support of FA.

Also Read: Man United, Liverpool To Step Up Euro Super League Plans If Project Big Picture Is Snubbed

League One bailout anunced as well 

Additionally, Premier League also anunced that it will make sure that League One and League Two clubs will t go out of business. While anuncing League One bailout plan, statement reiterated fact that lower league clubs rely heavily on matchday revenue means that y are at a  greater risk than Championship or Premier League clubs due to ir limited access to resources. A financial pack of £77.2 million was anunced by Premier League. bailout pack will consist of grants and interest-free loans of around £50 million in addition to £27.2 million worth of solidarity payments that have already being paid to League One and League Two clubs this year.

Also Read: Premier League SLAMMED For New, Steep £14.95 PPV Box Office Prices

What is Project Big Picture?

Project Big Picture is an ambitious plan proposed by Man United and Liverpool owners to revamp English football. proposal suggests sweeping changes across all tiers of English football. Some of changes involve converting Premier League into an 18 team competition, abolishing League Cup and Community Shield, and changing how clubs vote on major decisions. However, Project Big Picture has attracted criticism from most quarters, with many claiming that proposal will give too much power to traditional ‘Big Six’ clubs when it comes to making decisions.  

Also Read: What Is Project Big Picture? Premier League Clubs Furious Over Pressure From Big 6

Im Credits: Premier League Twitter