Liverpool is set to receive a record £175 million pay out in prize money for winning the Premier League title.
Topflight clubs agreed that they would receive their full prize money for last season, where Jurgen Klopp’s Reds won by a huge 18-point margin, and delay any reductions caused by the coronavirus pandemic.
All 20 Premier League clubs decided that the relevant cuts that were made due to the virus outbreak, which could total up to £330 million via rebates to broadcasters, will instead be spread out over future seasons in order to not affect club’s current income at this fragile time, according to The Times.
The clubs also agreed to another advance of solidarity payments to EFL clubs, after the £125 million paid in April that was actually due in August this month.
However, they stopped short of bailing out the lower league teams.
All these decisions were discussed and made at last week’s by-yearly meeting between Premier League club’s chief executives and chairmen.
This is great news for Liverpool, who will receive a record sum of £175 million in prize money and television broadcast earnings for their title triumph.
According to football finance expert Swiss Ramble, the Reds could have expected a £21 million hit from their prize earnings if the decision was not made to stall the pay out cuts.
The Premier League has still not confirmed the payments to the clubs, as they usually do so in the week after the conclusion of the season.
One of the main factors for delaying the lesser earnings in prize money was made because negotiations are still ongoing with the 55 domestic and overseas broadcasters around a rebate for the disrupted schedule enforced by the pandemic.
The season just gone was the first in the new format for the TV deal cycle, the system that allocates TV money in a way to benefit the top clubs.
For the first time, the money paid to the clubs made from overseas broadcasters were allocated according to where they finished in the final standings, rather than split equally across all teams.