Celtic & rest of Premiership set to receive £1.67m in Scottish Government loans
Celtic are set to be on the receiving end of a £1.67m loan from the Scottish Government, along with the 11 other Premiership clubs, STV journalist Raman Bhardwaj reports.
The Scottish top-flight will receive £20m in emergency loans, as confirmed by the Government [Gov.Scot], and it appears that will now be split evenly between all 12 teams.
Lets's try that again:
£55m government breakdown
– Premiership clubs to each receive £1.67m in loans
– Championship cubs to each receive £500k in grants
– League 1 clubs to receive £150k each
-League 2 clubs to receive £100k each
– Highland/Lowland league clubs to get £33k each
— Raman Bhardwaj (@ramanbhardwajTV) December 18, 2020
It remains to be confirmed whether or not Celtic will take up the option of a loan. The club have previously admitted that the pandemic has played havoc with its finances.
A loan could help any cashflow or short-term issues over the next six months, while we wait for fans to return to Celtic Park.
However, there are likely far more pressing financial issues further down the division.
If Celtic, and perhaps even Rangers, forego the option of a loan then more money could be made available to the rest.
Up to this point though, any extra cash generated from benefactors has been split evenly by division.
Further down the leagues, it is grants, not loans that are on offer.
For teams at the top end of the Championship and bottom end of the Premiership, that creates a disparity, but apparently, there has been no imaginative thinking at Hampden about how to split the money.
With the introduction of a vaccine, we are hopefully moving towards the closing stages of the disruption this virus has caused society.
It remains to be seen how quickly that happens, and how quickly fans return to stadiums, but this money should be very welcome in the meantime.