A group of world financiers, including a major U.S. company, are offering a lifeline in excess of £1 billion ($1.25 billion) to English soccer clubs due to the monetary crisis caused by COVID-19.

The proposal would see money distributed by football's governing bodies wherever it was most needed and then repaid at a negotiated rate of interest at a future date -- or perhaps converted into equity if all parties agreed.

Scott Smith, who founded agency RAPS Management, told ESPN: "We want this to work because it will help show that agents -- as well as players who have received an unfair press of late -- care passionately about the game and its future."

Several chairman have expressed their concerns at being able to survive without fans inside stadiums, something which is also an issue for Premier League clubs but one in their case offset by the billions they receive in television broadcast income.