French league to obtain a loan due to the coronavirus pandemic
The French league ( LFP ) will apply for a state-guaranteed loan to pay clubs at their two highest levels for the money they would have received from television broadcasts if the season had not been abandoned due to the COVID-19 pandemic, it said Monday.
The LFP decided to end the 2019-20 season on Thursday, with Paris St Germain be awarded the Ligue 1 title and Lorient crowned Ligue 2 champions.
PSG had a comfortable 12-point lead over second place Olympique de Marseille when professional soccer was suspended in March with 10 games remaining, as part of the French government's measures to stem the spread of the new coronavirus.
At a meeting on May 4, the LFP 's general assembly adopted a resolution allowing the LFP to contract a state guaranteed loan (PGE) from its banking establishment, the LFP said in a statement.
Thanks to this loan, the LFP will be able to pay 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 installations of audiovisual rights for the 2019/2020 season, respectively initially scheduled for April 5 and June 5, 2020 and will help support the cash flow of Ligue 1 and Ligue 2 clubs.
The decision to end the campaign has angered some clubs, with Olympique Lyonnais saying they will seek millions of euros in damages as they are deprived of European competition for the first time in a quarter of a century.
Amiens, who was relegated from the top flight, said they will study the reasons behind the decision before planning any legal challenge.