Report: Investor group offers EPL, EFL £1-billion loan amid work stoppage

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A group of financiers and investment banks have offered the Premier League and English Football League a loan worth more than £1 billion to prop up financially strapped clubs during the coronavirus pandemic, sources told ESPN's James Olley.

The loan would be repaid with interest at a later date or converted into equity if all parties agreed, according to Olley.

It remains unclear if the Premier League and EFL, which would distribute the money wherever it's needed most, will accept the proposal, but sources told Olley some within the lower levels would support it.

A major U.S. company is reportedly included in the investment group, which has been assembled in part by leading football agents.

The Premier League has been working to cut costs during a work stoppage that has caused massive losses in matchday revenue and commercial and broadcast income. It has yet to reach a blanket agreement with players over salary deductions.

Some clubs, including Liverpool and Tottenham, were using the British government's job-retention scheme to top up employees' wages before reversing their decisions.

The English Football League, which governs the second, third, and fourth tiers, created a £50-million short-term relief fund in March to help clubs deal with the revenue shortage, while the Premier League forwarded a £125-million payment to the EFL. Players in England's third and fourth tiers also agreed to defer up to 25% of their wages during the month of April.