Skint SFA secure a £5m government loan bailout
CASH- STRAPPED SFA bosses have bailed themselves out with a £5million coronavirus crisis loan.
The vital cash injection has been secured as part of the UK government’s Coronavirus Business Interruption Loan Scheme, set up to help companies stay afloat throughout the pandemic.
And it is set to fill the huge hole in the Hampden coffers caused by the ban on supporters, which has already left Steve Clarke’s Scotland side playing behind closed doors and which looks set to keep fans locked out of the climax to last season’s Scottish Cup.
The funding package has been agreed with Santander Bank, secured with a floating charge against “all the property or under taking of the company”.
A spokesman said: “The SFA, 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.”