Premier League: Project Big Picture dropped, £50m offered to the EFL for 3^rd and 4^th division clubs

"All 20 Premier League clubs today unanimously agreed that 'Project Big Picture' will not be endorsed or pursued by the Premier League, or The Football Association," announced the English league on 14/10/2020.

On 11/10/2020, an article in the Daily Telegraph reported on "Project Big Picture", which was aimed at rethinking the competition, economy and governance of English professional football. According to the British daily newspaper, this project, led by Liverpool FC and Manchester United FC, includes the reduction of the English elite division from 20 to 18 clubs, the creation of a £250m (€276m) rescue fund "immediately available" to the EFL, and the introduction of "special voting rights" for nine clubs on certain key issues.

"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," added the Premier League, which initially plans to pay £50m (€55m, in the form of grants…