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Scottish FA Takes Out £5m Coronavirus Loan

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The Scottish FA has secured £5m of funding as part of the Coronavirus Business Interruption Loan Scheme.

The money has been agreed through Santander Bank with a floating charge against "all the property or undertaking of the company".

Scotland's governing body agreed to buy Hampden, the national stadium, last year from Queen's Park.

But no international tie or major cup fixture has been able to be played there with fans attending in 2020.

The association faces losing £3m of revenue if fans do not return soon.

"The Scottish FA, like many other businesses affected by Covid-19, has successfully applied for a loan to help address the economic impact of the virus on the governing body via the government's Coronavirus Business Interruption Loan Scheme," said an SFA spokesman.

Scotland's national team have had to play four games so far this year without supporters at Hampden, while the Scottish Cup semi-finals and final have been carried over from last season.

Hearts face Hibernian at Hampden Park on 31 October, with Celtic taking on Aberdeen the following day and the final scheduled for 20 December.

Documents lodged with Companies House last week show European governing body Uefa acknowledging the agreement being put in place.

The SFA purchased Hampden after financial backing from Scottish entrepreneurs and businessmen Lord Willie Haughey and Sir Tom Hunter.

Between them they provided the funds that allowed the governing body to buy the national stadium from the League Two club.

https://www.bbc.co.uk/sport/football/54506073

 

 

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