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

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

The Premier League in a statement on Wednesday revealed that all clubs unanimously agreed that Project Big Picture will not be endorsed or pursued by the Premier League or The Football Association (FA). The statement also disclosed that all Premier League shareholders have agreed to collectively work together on a strategic plan for the future structures and financing of English football, in order to create a vibrant, competitive, and sustainable football pyramid. While concluding, the Premier League statement expounded that all the clubs will work collaboratively and transparently, with the project having the full support of The FA.

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

League One bailout announced as well 

Additionally, the Premier League also announced that it will make sure that the League One and League Two clubs will not go out of business. While announcing the League One bailout plan, the statement reiterated the fact that lower league clubs rely heavily on matchday revenue means that they are at a  greater risk than Championship or Premier League clubs due to their limited access to resources. A financial package of £77.2 million was announced by the Premier League. The bailout package will consist of grants and interest-free loans of around £50 million in addition to the £27.2 million worth of solidarity payments that have already being paid to League One and League Two clubs this year.

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What is Project Big Picture?

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

Image Credits: Premier League Twitter