The Scottish Football Association (SFA) has applied for a £5m mortgage under the UK Government’s Coronavirus Company Interruption Scheme.
The particular loan, which is guaranteed against long term monies owed to the SFA through UEFA TV contracts – obligations of which are due in Aug 2021 and August 2022 — was filed on Thursday, Oct 8.
That time coincided with Scotland’s Euro 2020 play-off semi-final against Israel, which they won upon penalties to set up a winner-takes-all conflict with Serbia the following month.
The scheme is designed to aid small and medium-sized businesses to reach loans and other kinds of finance, using the government guaranteeing 80 per cent from the finance to the lender, as well as paying out interest and any fees for that first year.
SFA chief executive Ian Maxwell told Skies Sports News last week that the body got lost over £3m in income due to fans not being allowed to attend the play-off and Scottish Cup semi-finals.
Scotland’s failing to qualify for a major finals given that 1998 has adversely affected budget for the association, as has Hampden Park being used for behind-closed-doors games this season.
Should Scotland get over Serbia on November 12 plus qualify for following summer’s rearranged European Championships , it would help mitigate those failures.
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