The Scottish Football Association (SFA) has applied for a £5m loan under the UK Government’s Coronavirus Business Interruption Scheme.
The loan, which is guaranteed against future monies owed to the SFA from UEFA TV contracts – payments of which are due in August 2021 and August 2022 – was filed on Thursday, October 8.
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That date coincided with Scotland’s Euro 2020 play-off semi-final against Israel, which they won on penalties to set up a winner-takes-all clash with Serbia next month.
The scheme is designed to assist small and medium-sized businesses to access loans and other kinds of finance, with the government guaranteeing 80 per cent of the finance to the lender, as well as paying interest and any fees for the first year.
SFA chief executive Ian Maxwell told Sky Sports News last week that the body had lost over £3m in revenue due to fans not being permitted to attend the play-off and Scottish Cup semi-finals.
Ian Maxwell says the @ScottishFA will lose around £3million of revenue with spectators being unable to attend matches.
50,000 tickets had been sold for the playoff match with Israel on Thursday. pic.twitter.com/ejp34X101F
Scotland’s failure to qualify for a major finals since 1998 has adversely affected finances for the association, as has Hampden Park being used for behind-closed-doors games this year.
Should Scotland overcome Serbia on November 12 and qualify for next summer’s rearranged European Championships, it would help mitigate those losses.
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