LATICS are set for a cash boost after the Premier League today announced additional funding for clubs in League One and League Two to help with their continued recovery from the COVID-19 pandemic.

The Premier League has committed to a further £20million for League One and Two clubs this season, along with £5m to National League and National League North and South clubs between now and 2025.

Oldham were the recipients of a loan from the English Football League, for which they remain under a transfer embargo.

The latest funding, which follows the Premier League's provision of COVID-relief packages for EFL clubs as well as funds to assist non-league clubs during the pandemic, will provide targeted assistance for clubs who suffered significant loss of revenue while football was played without fans.

It forms part of the additional £100m of investment to which the Premier League has committed over the next four years in order to provide security and continuity to lower-league clubs, and help develop the game, and is part of the commitments made to the Government following the Exclusion Order relating to the three-year renewal of the Premier League's UK live and non-live broadcast deal with Sky Sports, BT Sport, Amazon Prime Video and BBC Sport.

Premier League chief executive Richard Masters said: "We are delighted to be able to provide additional support to EFL and National League clubs at a time when the whole of football is looking to return to normality.

"This builds on our long-standing support for football at all levels and is part of additional funding we will provide to the wider pyramid and communities following the Government's approval to renew our UK broadcast arrangements.

"We look forward to working with our football partners to provide more important financial assistance in areas where it is truly needed, which will continue to make a difference to those clubs impacted significantly by COVID-19."

The new funding of £100million will cover five key areas:

- support for the National League system

- developing the women's and girls' game

- enhancing community football facilities

- supporting EFL clubs

- projects that help the wider game

Sports Minister Nigel Huddleston said: "We took action earlier this year to secure the financial position of the Premier League by freezing the broadcasting rights to help weather the storm caused by the pandemic.

"It's great to see the Premier League delivering on its £100m commitment to support the wider football family with an initial £25m down payment for this season for clubs in League One and Two and the National League.

"The Premier League has an important role to play in supporting the game beyond the top tier and this investment will have a positive impact in local communities, help grow the women's game and help unearth the next generation of talent."

The Premier League also provides financial support for the youth development and community organisations of 92 Premier League and EFL clubs to deliver national programmes in schools and communities, as well as the 66 National League clubs to deliver community programmes.