After revealing in a statement that the Liverpool and Manchester United-driven Project Big Picture will not be pursued, the top flight announced the financial bailout for the 48 clubs in the EFL’s bottom two leagues.
The Saddlers are now waiting to discover how and when the support will be delivered as they meet with EFL bosses tomorrow.
The Premier League said its rescue package will consist of interest-free loans and grants.
The bailout comes as encouraging news for lower-league clubs – the majority of whom had supported Project Big Picture.
Walsall chairman Leigh Pomlett had previously revealed he was 'generally positive' about the scheme. Top-flight clubs voted against the controversial plans in yesterday’s meeting.