Premier League clubs have “unanimously agreed” that the controversial ‘Project Big Picture’ proposals by Liverpool and Manchester United, will not be “endorsed or pursued”.
At a meeting of the 20 clubs who make up the Premier League, the proposals were on Wednesday given the boot with consensus that the clubs will instead “work together” on a new “strategic plan” for the “financing of English football”.
Good news for League One and Two clubs came in the form of a £50m rescue package that was agreed.
The controversial ‘Project Big Picture’ involved reducing the Premier League from 20 to 18 clubs and scrapping the EFL Cup and Community Shield.
The sweetener to the deal was hoped to be the English Football League getting 25% of all future TV deals and £250m bail-out.
The most toxic of the proposals was that the so-called ‘big six’ Premier League clubs would have increased voting powers.
A statement from the Premier League seen by Footy Hawk said its members had “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”.
“Clubs will work collaboratively, in an open and transparent process, focusing on competition structure, calendar, governance and financial sustainability.
“This project has the full support of the FA and will include engagement with all relevant stakeholders including fans, government and, of course, the EFL.”