The FA and Premiership agreed in principle to the cash injection of between £30m and £35m yesterday, although the details of the agreement are still being hammered out, according to a report in the Financial Times.
If the agreement goes through, most of the League’s 72 clubs would receive a much-needed boost, enabling the country’s smaller clubs to put their finances in order.
The deal is thought to be tied up with reforms aimed at keeping the clubs out of future difficulties. The reforms could include wage capping and an agreement to tailor future pay contracts to the division in which the players are operating.
The news comes after a difficult summer for the League after almost half of its clubs went into administration and its and chairman and chief executive were made redundant.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children