To support French clubs, the LFP’s general assembly approved the state guaranteed loan project on Monday. So 224.5 million euros will be distributed among the clubs.
As expected, the LFP general assembly voted well on Monday the project of loan guaranteed by the State (PGE) which wished to request the authority. This loan of 224.5 million euros, contracted with Société Générale and guaranteed by the French State, will make up for the money which will not be paid by the broadcasters Canal + and BeIN Sports, following the early termination of Ligue 1 and Ligue 2.
“Meeting on May 4, the General Assembly of the LFP adopted a resolution allowing the LFP to contract with its banking establishment a loan guaranteed by the state (PGE), said the League in a press release. 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. These sums cover the last two installments of the audiovisual rights of the 2019/2020 season, respectively initially scheduled for April 5 and June 5, 2020 and will thus help support the treasury of Ligue 1 and Ligue 2 clubs. “
Major clubs will benefit
According to information from RMC Sport, the major part of this sum collected via the PGE will go to the big clubs, which had not touched the last installment of the TV rights, related to the notoriety and the final classification.
Clearly, the money from this loan will go first to PSG, OM, Monaco, Lyon, Lille, Saint-Etienne or the Girondins de Bordeaux, while the clubs with lower awareness had already touched 90% of their TV rights.