Celtic only top-flight club not to utilise Scottish Govt loan as rivals slip further into debt
Celtic were the only Scottish top-flight club not to utilise a Scottish Government loan during the pandemic, The Scottish Sun reports.
All 11 other clubs in the Scottish Premiership last season took cash from a £25m pool available from authorities to help guide them through the financial difficulties of the last year.
Rangers top the table, slipping £3.2m further into debt.
The full list is:
- Rangers £3.2M
- Aberdeen £3.119M
- Motherwell £2.959M
- Hibernian £2.882M
- Dundee United £2.818M
- St Johnstone £2.6M
- Kilmarnock £1.828M
- Livingston £1.783M
- St Mirren £1.764M
- Ross County £1,158M
- Hamilton £1.151M
- Celtic Nil
A Holyrood spokesperson told the paper: “The Scottish Government responded to requests from top-flight clubs to provide financial support as they faced unprecedented losses and an uncertain future at the height of this pandemic.
“All 12 top-flight clubs were invited to apply for a share of the initial £20 million Premiership Division Support Fund. Each club’s share was capped at the total losses and additional costs which clubs faced as a result of the pandemic.
“The amount of loan funding was increased to £25 million this year. This money formed part of the £55 million Emergency Sports Fund put in place by the Scottish Government because of the pandemic.
“No club received any more than their losses as a result of the pandemic. As clubs will have different outlays and running costs, the value of the loans varied between clubs.
“It is important to note that these are loans which will have to be repaid by all borrowers over an agreed timescale. The Scottish Government is providing the top-flight clubs with a credit facility. But not all clubs have fully drawn down on their credit facility yet and they have until July 31 to do so.”
There has been lots of speculation about the finances of Celtic over the last 12 months. Rival supporters in particular have goaded us online suggesting the club is skint.
Clearly though if things were so bad we’d have utilised some of the money available here?
The Scottish Sun reports Rangers’ losses for the year are set to be above an eye-watering £20m. It comes as the Ibrox side embark on yet another share issue, this time asking supporters to weigh in and “future proof” the club.
If I were them, I wouldn’t be gloating about finances too much right now.