Next season 2019-20 the average Club will earn over £170m. The bottom Club will earn £120m. Parachute monies will be £86.8m over 3 years. NCF is able to raise loans using these receivables as security.” Funders and documentation have to be approved by the PL. NCF’s funders have this approval.
|Face Amount||Up to 50% of the TV broadcasting revenues|
|Security||Assignment over all the TV monies due to the borrowing club. Inter-creditor agreement, if required|
|Maturity Date||Up to 24 months|
Financial-3 x coverage
|Events of Default||Standard Edom including cross-default and cross-acceleration|
|Indicative rate||6% to 7%|