This week, the EFL announced that they will be helping clubs during this difficult time, providing a lifeline for some of the teams who aren’t as financially well off as others. The news was well received, but after the extension of no football matches until April 30th, will it be enough?.
Clubs have been awaiting what the EFL were going to do in response to the delay in playing matches. The EFL will make available £50 million to help clubs with their lack of cash-flow. The £50 million will partly be made up of award payments that would have been paid at the end of the campaign. This will be a huge help for the clubs, but it is money that they won’t receive at a later point. The rest of the money will be available through an interest-free loan.
The idea of the interest-free loan is a saviour for clubs, however it must be used wisely. If clubs bite off more than they can chew, then it may benefit in the short-term, but could mean that clubs have a debt riding over them for longer than they would have liked going forward. It is difficult to work out how much exactly is the right balance, but thankfully I am not the one making these decisions.
The next problem is when games will be played again. The EFL have extended the period where there will be no matches to April 30th, but for me, I cannot see games resuming with crowds in attendance on this date, it seems as though it will be too soon. So what exactly is going to happen. My view is that they will try and finish the season no matter what, but I feel inevitably it will resume behind closed doors, or else they risk getting into some murky waters with contract issues.
Overall we do not know how long this spell will go on for, I hope that we will see football in May, but I think it is doubtful. I am more than happy to be proven wrong though.