SFA secures £5m business loan as coronavirus hits finances
The SFA has secured £5 million worth of funding as part of the Coronavirus Business Interruption Loan Scheme.
According to a BBC website report, the money has been agreed through Santa nd er Bank with a floating charge against“all the property or undertaking of the company”.
Scottish football’s governing body agreed to buy Hampden from Queen's Park last year, 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," an SFA spokesman told the BBC yesterday.
Scotland' s national team have had to play four games so far this year without sup - porters at Hampden, while the Scottish Cup semi-finals and final have been carried over from last season.
Hearts face Hibernian at Hamp den Park on October 31, with Celtic taking on Aberdeen the following day and the final scheduled for December 20.
The BBC reported that documents lodged with Companies House last week show European governing bodyUe fa 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.