Scottish Premiership loans to be interest-free, with 20 years to pay back government money
- Published
Football clubs have lost a huge amount of revenue with fans not permitted to attend matches
The Scottish Football Association is close to agreeing a deal with the Scottish government that will give Premiership clubs access to interest-free loans of around £1.6m.
The borrowed money would be repayable over a period of up to 20 years with no repayment due until 2022 at the earliest.
A £20m package to support top-flight clubs was announced on 10 December.
Details of any securities clubs will use to secure the loans remain unclear.
However, once applications are made, the funds could be in bank accounts in a matter of weeks.
The Scottish government pledged £55m for spectator sports "vulnerable of going under" as a result of the coronavirus pandemic.
Championship clubs all received a one-off grant of £500,000, with League One clubs getting £150,000 each and £100,000 for League Two clubs.
A further £2.5m in grants was made available for football clubs, including in the women's game and lower-league football.
Rugby union is to receive £20m - £5m loans and £15m grants - while ice rinks and horse racing will get £2m each. Another £1m will be split between other sports.