A £50million bailout offer from the Premier League has been rejected by English Football League (EFL) clubs.

Meetings were held today to discuss the proposal, which was put forward yesterday by the top flight after they rejected Project Big Picture.

But while the EFL were pleased a firm offer was on the table to help its members cope with the impact of playing behind closed doors, there are significant issues.

It cut out Championship clubs altogether, while the total was only a fifth of what the EFL believe is needed if coronavirus restrictions continue all season.

The conditions attached to the mixture of grants and interest-free loans are also thought to be a stumbling block.

In a statement, the EFL said: "The need for continued unity across the membership base was fundamental to discussions across all three divisions, and therefore there was a strong consensus that any rescue package must meet the requirements of all 72 clubs before it can be considered in full.

"The League has been very clear in its discussions of the financial requirements needed to address lost gate receipts in 2019/20 and 2020/21, and while EFL clubs are appreciative that a formal proposal has now been put forward, the conditional offer of £50million falls some way short of this.

"The EFL is keen to continue discussions with the Premier League to reach an agreeable solution that will address the short-term financial needs of all of our clubs and allow us the ability to consider the longer-term economic issues in parallel that specifically look to achieve a more sustainable EFL for the future."