£164,000 for Port Vale as Football League announces £50m short term relief fund

The BBC reports that the Football League is to release a £50m short-term relief fund to help clubs with cash-flow issues because of the coronavirus outbreak.

The Valiants will be given early payment of their £164,000 award payment and also the opportunity to apply for a £120,000 interest free loan.

The fund includes the early release of award payments, and an interest-free loan facility.

The announcement was made after an Football League board meeting called to discuss the impact of the outbreak on clubs.

Under the terms of the relief fund, Championship clubs will receive their remaining £800,000 award payment from the Premier League on Thursday. In addition, they will be able to apply for a £584,000 interest-free loan.

For League One clubs the figures are £250,000 and £183,000, and for League Two sides, such as Port Vale, they are £164,000 and £120,000.

An additional £1m from the EFL Futures pot, a scheme which rewards clubs for giving opportunities to home-grown young players, will be allocated now on a pro-rata basis.

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