SNP government grants Rangers largest emergency interest-free covid loan

0

Rangers lead the table when it comes to clubs claiming emergency loans for the Scottish government, according to an analysis.

Ibrox’s team received £ 3.2million as an interest-free loan from SNP ministers in January after a deal was struck by the SFA to provide clubs with financial support in the height of the second locking.

All of the Premiership teams last season except Celtic took advantage of the loan facility, which paid out a combined total of £ 25.2million.

Aberdeen claimed the second largest amount, with a loan of £ 3.19million, while Motherwell claimed a total of £ 2.9million and Hibernian and Dundee United both received 2.8million of pounds sterling.

The borrowed money is repayable over a period of up to 20 years with no repayment due until 2022 at the earliest.



Aberdeen football club received £ 3.19million in loans

The details of the loans were discovered by BBC Scotland and reveal that club directors cannot afford bonuses or pay increases above inflation until the money is paid back.

Quarterly financial reports are also issued to ministers by clubs, with any ‘threatened change in financial position’ expected to be reported to Scottish ministers immediately and in the event that a club with a loan goes into management, the unpaid money is expected. be repaid with interest.

Clubs playing in the Championship, League 1 and League 2 last season received grants instead of loans from the Scottish government.

The Scottish government first announced in December last year that it would provide funding worth £ 55million to spectacle sports ‘vulnerable to sinking’ due to the pandemic.

Speaking at the time, Nicola Sturgeon said: “It should be noted that top English men’s football has not received such financial support from the UK government,” the Prime Minister said Nicola Sturgeon during the package announcement.

“[The] The support package taken in its entirety will be far greater than the Barnett consequences announced following the investment announced by the UK government last month. “

Then Sports Minister Joe FitzPatrick conceded that the lockdown could have been a disaster for some professional clubs.

“Although restrictions on supporters at events have been vital in stopping the spread of the virus and saving lives, there is no doubt that they have created real hardship for many sports clubs,” he said. he said when announcing the financial aid.

“These clubs are at the heart of our communities and, without urgent financial support, the survival of some could be in question.”

Professional football was suspended in March 2020 when the first lockdown was imposed and fans were locked out when the 2020/21 season was finally allowed to start.

Only a handful of top-flight matches were allowed to a limited number of fans last season until the winter lockdown was imposed in December.

This meant that the National Cup finals and the end of Rangers’ victorious season took place on pitches without supporters.

To subscribe to the Daily Record Politics newsletter, click here


Source link

Leave A Reply

Your email address will not be published.