The French Professional Football League (LFP) has adopted a resolution on Monday to apply a loan guaranteed by the state (PGE) to pay the Ligue 1 and Ligue 2 clubs during an economic crisis caused by the COVID-19 pandemic.
The General Assembly of the LFP voted the project in a meeting held by phone this afternoon.
“Thanks to this loan, the LFP will be able to pay the Ligue 1 and Ligue 2 clubs all of the sums still to be collected for audiovisual rights for the 2019/2020 season,” a statement released by the French professional football leagues governing body said.
“These sums cover the last two installments of audiovisual rights for the 2019-2020 season, respectively initially scheduled for April 5 and June 5, 2020 and will thus help support the cash flow of Ligue 1 and Ligue 2 clubs.”
The amount of the loan, according to French daily newspaper L’Equipe, is 224.5 million euros which should be a timely help for the clubs who are suffering a deadly short of cash since the broadcasters Canal+ and beIN Sports have decided not to pay the rest of the TV rights because of the end of the season.
The LFP last Thursday announced the end of the 2019-2020 season of domestic leagues as Paris Saint-Germain retained the champions of Ligue 1 for the third consecutive year with 12 points clear of Marseille.
The Ligue 2 title went to Lorient, who will together with second-placed Lens be promoted to the top flight, with Toulouse and Amiens, who sit the last two places of the first division set to be relegated. Enditem