Burnley set for seven-figure Premier League cash lifeline amidst fears Clarets could go bust

Burnley are set for a cash advance from the Premier League, according to a report.

Burnley set for seven-figure Premier League cash lifeline amidst fears Clarets could go bust
Burnley set for seven-figure Premier League cash lifeline amidst fears Clarets could go bust

The Times report that clubs are to be handed payments due to them at the end of the season, which could provide a lifeline for the Clarets.

Clubs are facing cash flow problems arising from football’s suspension during the coronavirus pandemic, and the payments will be based on the merit payments which vary according to the final league table. It’s also claimed some facility fees – payments for TV games – will also be advanced.

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The plans will see each club advanced a different sum ranging from several million pounds for those at the bottom to more than £20million for those at the top.

The Premier League has still a quarter of the season to play but has received all its broadcast income for the current campaign.

Both from domestic broadcasters Sky and BT and overseas rights holders. That is in contrast to Germany where €300million (£262m) and Spain where around €260million (£228m) are still owed.

Indeed, Burnley chairman Mike Garlick warned the club would go bust in August if the football lockdown has not ended by then.

He said: “The fact of the matter is, if we don’t finish the season and there isn’t a clear start date for next season, we, as a club, will run out of money by August. That is a fact.

“I can’t speak for other clubs, I don’t know their financial positions.

“All I can speak for us our club and our position.

“That’s why we’re very determined that when of course it is safe to do so, we really want to finish this season.”