Premier League clubs have rejected Project Big Picture but have agreed to create an emergency financial package for clubs in League One and League Two.
At a virtual meeting on Wednesday, all 20 clubs “unanimously agreed” that neither the Premier League nor The FA would endorse or pursue the proposals, which included changing the voting structure of the Premier League, as well as funding models for the English Football League (EFL) and Football Association (FA).
The clubs have also agreed to work as a “collective” and with transparency on any future plans that involve the structure or financial of English football.
These proposals, which have now been rejected, were initially drawn up by Liverpool, with the backing of Manchester United.
- Project Big Picture’ proposals
- Premier League reduced to 18 clubs
- No EFL Cup or Community Shield
- Special status for nine longest serving clubs – ‘Big Six’, Everton, West Ham, Southampton
- Only six of the nine longest-serving clubs need to vote for major change
£250m immediate compensation for EFL
- Figure also represents coronavirus financial bail-out
- Club who finishes 16th in Premier League to replace sixth-placed Championship club in EFL play-offs
- Premier League to commit 25 per cent of future revenue to EFL
The plans had involved several other major changes to the structure of English football, with a reduction from 20 to 18 teams in the Premier League and the scrapping of the EFL Cup and Community Shield.
In a statement on Wednesday, the Premier League said: “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.”
It added: “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 totaling a further £50m on top of the £27.2m solidarity payments already advanced to League One and League Two this year, making a total of £77.2m.
“Discussions will also continue with the EFL regarding Championship clubs’ financial needs. This addresses Government concerns about lower league clubs’ financial fragility.