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islander View Drop Down
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    Posted: 18 Nov 2020 at 19:41
Similar stories in Times & Telegraph in last hour or 2. This is the latter piece...

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A £300 million coronavirus bailout for sport will be announced by the Government on Thursday in a bid to stop clubs and entire competitions going bust.

It can be revealed that rugby union, rugby league, racing, basketball, netball and women’s football are among 11 sports which will receive a combination of grants and loans to cover losses incurred from them being forced to play behind closed doors.

But Premier League and English Football League teams will receive nothing in line with ministers’ demand that the world’s richest league rescues the rest of the professional men’s game.

Rugby union is expected to be the biggest beneficiary of the bailout, but only in terms of loans, with England and Premiership clubs having been forced to play behind closed doors during the pandemic.

On Wednesday, sports minister Nigel Huddleston announced he would be making a statement on financial support for the sport sector in the House of Commons the following day.

Sport’s finances have been ravaged by the loss of match-day revenue, with plans to allow a limited number of fans to attend events from October 1 scrapped following a rise in Covid-19 infections.

It emerged this week that Government had been exploring the possibility of spectators being allowed into venues by Christmas in areas with the lowest coronavirus infection rates once the second national lockdown ends.

But the Daily Telegraph has been told Jonathan Van-Tam, the Deputy Chief Medical Officer, played down the prospect of such an early return on a call with sport’s leaders on Wednesday morning.

Boris Johnson, who on Monday told MPs privately that reopening sports grounds was “a personal priority”, said during Prime Minister’s Questions on Wednesday afternoon: “I understand the frustration over fans and we hope to get crowds back in the ground as soon as possible.”

He was also asked about a rescue package for the EFL, replying: “We don’t want any football team to go out of business as a result of this pandemic and we’re doing everything we can.”

The Premier League has made offers of support and Leagues One and Two clubs are now in negotiations over a £50million rescue package made up of £20m in grants and £30m in loans, which they want converted to grants only.
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Points: 1299 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Guinness John Quote  Post ReplyReply Direct Link To This Post Posted: 19 Nov 2020 at 13:06
If I've read it correctly £9 million for Championship clubs  from the  Government. 
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Points: 474 		Post Options Post Options   Thanks (0) Thanks(0)   Quote MikeGC Quote  Post ReplyReply Direct Link To This Post Posted: 19 Nov 2020 at 14:03
I wonder if any will trickle down into the lower reaches.....
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Originally posted by MikeGC MikeGC wrote:

I wonder if any will trickle down into the lower reaches.....
or

£23m for clubs below Championship
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Originally posted by FHLH FHLH wrote:

Originally posted by MikeGC MikeGC wrote:

I wonder if any will trickle down into the lower reaches.....
or

£23m for clubs below Championship


That's great, thanks for taking the time to find the information and more importantly post it here - I hope lots of small clubs will be saved from extinction
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Points: 1126 		Post Options Post Options   Thanks (0) Thanks(0)   Quote PiffPaff Quote  Post ReplyReply Direct Link To This Post Posted: 19 Nov 2020 at 15:01
I doubt Mike many clubs will see much of it.

If the figures are correct and currently I can't find anyone in the RFU to confirm them, then the Prem Clubs get nearly £5 Mil each, Championship Clubs as quoted £750K and the rest of game -  all 1905 Clubs below the Championship and its 28 CBs share £23M....... roughly £11K each, seems fair.........Confused


Edited by PiffPaff - 19 Nov 2020 at 15:07
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Remember that much of this is loans not grants. Clubs were asked to provide a financial assessment of the impact of Covid in October, I would expect this figure top be based on those assessments. At the moment, my Club would probably not go for a loan so it will be interesting to see how the money is to be shared out.
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Originally posted by Halliford Halliford wrote:

Remember that much of this is loans not grants. Clubs were asked to provide a financial assessment of the impact of Covid in October, I would expect this figure top be based on those assessments. At the moment, my Club would probably not go for a loan so it will be interesting to see how the money is to be shared out.

Quite, as I've just said elsewhere - this is not free money, this is (largely) an opportunity to borrow. Some clubs may need to do that to survive, so it might be a lifeline, but there are strings, and it might just be storing up problems for the future.
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Points: 4227 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Halliford Quote  Post ReplyReply Direct Link To This Post Posted: 19 Nov 2020 at 22:27
The RFU has confirmed tonight that it is £250m in loans and £50m in grants. It all has to be applied for against criteria which have yet to be published and none of it is guaranteed.
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Why did rugby union get £135m from the government and football didn’t?

Explaining sport’s bailout after Premiership rugby clubs landed £59m of emergency funding despite the EFL’s ongoing wait for financial aid............

https://www.independent.co.uk/sport/rugby/rugby-union/rugby-union-government-funding-football-b1749063.html

...........scroll through football clubs wingeing, and it's a good summary. I guess the key is that these are loans and not grants so (presumably) have to be paid back some time. I can't quite see how this is going to help the sport (apart from solving a short term cash flow issue)..........storing up problems for this time next year? I guess if the loan is significantly longer term than commercial loans, then that might work? 


Edited by Bill Sley - 20 Nov 2020 at 06:08
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Uptake of loans from the RFU earlier in the year was extremely low so I doubt this will be vastly different. All clubs I've spoken to are pretty much surviving financially.
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