Premier League clubs rejected the Project Big Picture proposals in a meeting.

Top-flight clubs met virtually on Wednesday to discuss the radical proposals.

The plans would have seen more funding for EFL clubs and competitions axed.

But the clamour for the 'Big Six' to have more power angered top-flight clubs.

Instead all 20 clubs agreed to a strategy review and another EFL bailout offer.

Premier League clubs will hand struggling teams in Leagues One and Two £77m.

It consists of £50m on top of the £27.2m solidarity payments already advanced.

Project Big Picture is dead after Premier League clubs rejected proposals put to them by Manchester United and Liverpool during an emergency meeting on Wednesday.

The top flight met to discuss the radical plans for a shake up of English football for the first time via video conference.

But the 20 clubs swiftly rejected the proposals and instead agreed to a widespread strategy review and also gave the green light to a new bailout offer to the EFL after their opening attempt was rejected.

Premier League clubs have rejected Project Big Picture plans during Wednesday's meeting

PREMIER LEAGUE STATEMENT IN FULL:

Henry's Fenway Sports Group have been discussing the idea of an overhaul for some time

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.

Both Liverpool and United held secret talks with EFL chairman Rick Parry

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.

Premier League will bail out struggling League One and League Two clubs amid coronavirus

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.

The two leagues have been impacted most by lack of matchday revenue due to coronavirus

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.

Discussions will also continue with the EFL regarding Championship clubs’ financial needs. This addresses Government concerns about lower-league clubs' financial fragility.

Football is not the same without attending fans and the football economy is unsustainable without them. The Premier League and all our clubs remain committed to the safe return of fans as soon as possible.

Premier League WILL bail out struggling League One and League Two clubs with £50m in grants and interest-free loans... but the Championship misses out on cash injection as clubs vote to scrap Project Big Picture

The Premier League has announced that League One and League Two clubs will be bailed out with £50m in grants and interest-free loans, but Championship clubs will miss out.

The 20 Premier League clubs met on Wednesday via video conference to discuss the controversial Project Big Picture plans, which were put forward by Liverpool and Manchester United last weekend.

But the 20 clubs swiftly rejected the proposals and instead agreed to a widespread strategy review and also gave the green light to a new bailout offer to the EFL after their opening attempt was rejected.

And it was agreed among top flight clubs that they would make available a rescue package to help League One and League Two clubs as they risk going out of business as a result of financial ramifications of the coronavirus pandemic.

However, a statement by the Premier League outlined that the rescue package was for the bottom two divisions in the EFL, meaning the Championship clubs will miss out on the cash injection.

The reasoning behind this was that, in the top flight's view, League One and League Two clubs have been more seriously impacted by the lack of matchday revenue caused by behind-closed-doors games.

'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,' a statement from the Premier League read.

'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.'

The statement went onto outline that the renewed offer will consist of grants and interest-loan fees totalling £50m. The Premier League had given £27.2m of solidarity payments to League One and League Two earlier this year.

The Premier League added that discussions as to how to financially support Championship clubs will continue.

The EFL rejected the Premier League's initial £150million rescue package - a £40m grant and £110m loan dependent on a series of conditions.

The lower divisions would have had to give top-flight clubs control of the calendar, their spending levels and post-Brexit work-permit arrangements, as well as scrapping the League Cup and accepting there will be no promotion from the Championship in the event of curtailment unless 75 per cent of fixtures have been completed.

The EFL have been seeking a bailout from the Premier League to help them cope with the Covid-19 crisis since May, when a rescue package was made mandatory if the Government was to support Project Restart.

By Ollie Lewis

The new EFL bailout offer, worth £77million in total, will include an option for the funding only to go to the League One and League Two clubs but Championship teams can veto that.

Liverpool and Manchester United, as well as EFL chairman Rick Parry, wanted a radical restructure of English football that would have led to increased funding for the EFL, a reduction of top-flight clubs from 20 to 18 and scrapping the Carabao Cup among other things.

But the proposal also outlined how the Premier League's 'Big Six' would acquire more power in decision-making and that caused anger within the top flight and other levels of the football pyramid.

During a two-hour meeting on Wednesday, the proposals were quickly thrown out.

A Premier League statement, signed off by all 20 clubs, 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.

'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.'

The EFL rejected the Premier League's initial £150million rescue package - a £40m grant and £110m loan dependent on a series of conditions.

The lower divisions would have had to give top-flight clubs control of the calendar, their spending levels and post-Brexit work-permit arrangements, as well as scrapping the League Cup and accepting there will be no promotion from the Championship in the event of curtailment unless 75 per cent of fixtures have been completed.

The EFL have been seeking a bailout from the Premier League to help them cope with the Covid-19 crisis since May, when a rescue package was made mandatory if the Government was to support Project Restart.

Parry has made it clear the lower divisions need £250m to ensure all the clubs can keep paying their players and therefore playing matches in the absence of gate receipts this season.

The rejection of Project Big Picture comes as a huge blow to Manchester United and Liverpool though.

It is claimed the meeting was 'civilised' and at least 14 of the 20 top-flight clubs were opposed to Project Big Picture.

It emerged on Tuesday night that EFL clubs were split over whether to support the plan with meetings of the three divisions on Tuesday ending without a firm agreement.

As reported by Sportsmail, Championship clubs are understood to have offered chairman Parry their support while clubs in League One and League Two were far more critical of the proposals.

There were fears the Premier League's clear anger at Parry's involvement in secret talks with Liverpool and Manchester United could have scuppered the bailout they are seeking to survive for the rest of the season.

As many as seven clubs in League One and Two need extra funding to ensure they can pay all their players this month so are wary of further antagonising the Premier League.

This article is republished from Daily Mail Online. Read the original article.

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