Cash-strapped elite Scottish clubs to get loans

 

The SFA have struck a deal with the Scottish Government to hand out interest-free crisis loans to cash-strapped Premiership clubs.

And, in act of clemency towards top flight teams, the cash will be repayable over a 20-year period with nothing to pay back until 2022.

The governing body are set to confirm an agreement following weeks of intense negotiations between chief executive Ian Maxwell and Holyrood officials

Top flight clubs will now be entitled to apply for immediate loans of £1.6million each as part of an emergency rescue package for Scottish sport unveiled before Christmas.

While clubs from the Scottish Championship down were handed one-off survival grants, Premiership teams were promised access to a £20m loan package — the small print of which has taken weeks to thrash out.

Sportsmail understands clubs have been informed of a deal now being struck, with an announcement imminent

The Covid-19 crisis has starved clubs of income through the gates from supporters or hospitality. And, with growing doubts over a return date for fans, the delay has pushed some Premiership clubs close to crisis point.

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Speaking earlier this week, Dundee United sporting director Tony Asghar claimed Premiership clubs had been cast aside by the government, saying: ‘Championship clubs were given £500,000 as a nice Christmas present, but clubs like ourselves need money because we don’t have any income from supporters.

 

 

 

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