Doncaster Rovers awaiting fresh bailout offer from Premier League after Project Big Picture is thrown out

The radical plan, drawn up by the owners of Liverpool and Manchester United along with EFL chairman Rick Parry, was rejected out of hand by other top flight clubs at a meeting on Wednesday.

The clubs have instead agreed to a widespread review of future strategies as well as a new bailout offer to the EFL after their opening gambit was rejected.

A statement is expected from the Premier League confirming that all 20 members - including Liverpool and Manchester United - have agreed not to pursue the proposals but have committed to planning for the future structure and financing of English football.

It has been reported that the new bailout offer will see around £50million will be made available to EFL clubs with an option that the funding is only given to those in League One and League Two. However, Championship clubs are expected to be handed the opportunity to veto that option.

An initial offer of a £150million rescue package from the Premier League was previously rejected. That package involved a £40million grant with £110million additional funds available as a loan which came with a series of conditions, including strict guidelines on spending.

It is understood that around half a dozen clubs in Leagues One and Two will require assistance if they are to be able to pay their players in full this month.

And chairman Rick Parry has previously stated the EFL needs a combined £250million if clubs are to be able to complete the current season without fans in stadiums.

Project Big Picture would have seen a £250million bailout immediately handed to the EFL before an increase in funding, with 25 per cent of top flight revenues distributed across the three divisions below. It would also have resulted in the Premier League being reduced to 18 teams and the scrapping of the League Cup.

However, it would also have handed the ‘big six’ clubs more power in decision making over the future of the Premier League, which proved to be the major sticking point.

READ MORE

Project Big Picture: What it would have involved and how it would have impacted Rovers

Rovers chief urges caution over clubs' bail-out options

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