Bolton to Benefit Despite 'Project Big Picture' Rejection

  • October 14, 2020 | By Chris Mann
  • URL Short URL: http://b-ac.es/9585e

Bolton are to benefit from a financial rescue package, despite Premier League clubs voting unanimously against 'Project Big Picture'.

The Project - backed by 'Big Six' clubs Arsenal, Chelsea, Liverpool, Manchester City, Manchester United and Tottenham Hotspur - proposed a reduction of teams competing in the top-flight to 18, the abolishment of the EFL Cup and Community Shield, as well as special status for the nine longest-serving clubs when it came to voting on individual matters.

Whilst those conditions would have made little difference to Wanderers, proposals also included an immediate £250million compensation package for EFL clubs, as well as the promise of 25% of future television and media revenue.

Trotters chairman Sharon Brittan publicly backed the plans in a statement on Wednesday but the Premier League have since confirmed 'Project Big Picture' would not be pursued any further after their member clubs came to a collective decision.

A statement, posted at premierleague.com, read: "All 20 Premier League clubs today unanimously agreed that 'Project Big Picture' will not be endorsed or pursued by the Premier League, or The FA.

"Further, Premier League Shareholders agreed to work together as a 20-club collective on a strategic plan for the future structures and financing of English football, consulting with all stakeholders to ensure a vibrant, competitive and sustainable football pyramid.

"Clubs will work collaboratively, in an open and transparent process, focusing on competition structure, calendar, governance and financial sustainability.

"This project has the full support of The FA and will include engagement with all relevant stakeholders including fans, Government and, of course, the EFL."

The statement would go on to reveal a £50million support package would be made available to EFL clubs, adding to a £27.2million solidarity payment that was advanced to clubs in League One and League Two earlier in 2020.

"Also at today's meeting it was agreed to make available a rescue package which aims to ensure that League One and League Two clubs will not go out of business as a result of the financial impact of COVID-19 and be able to complete the 2020/21 season.

"League One and League Two clubs rely more heavily on matchday revenue and have fewer resources at their disposal than Championship or Premier League clubs and are therefore more at risk, especially at a time when fans are excluded from attending matches.

"This offer will consist of grants and interest-free loans totalling a further £50million on top of the £27.2million solidarity payments already advanced to League One and League Two this year, making a total of £77.2million."

Distribution of grants and loans will be discussed at an EFL meeting on Thursday, where it is anticipated a percentile split would be agreed to leverage a higher proportion of the funds to clubs in League One.

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Sky Bet League Two Standings

Pos Team Pld Pts
18 Leyton Orient 6 5
19 Oldham Athletic 6 4
20 Bolton Wanderers 6 4
21 Scunthorpe United 6 4
22 Barrow AFC 6 3
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