Scottish government defend their Rangers decision
The Scottish Government have defended their decision to hand Rangers the biggest interest-free Covid loan.
The Herald report that the Gers were handed £3.2million in January earlier this year.
The SNP were then quizzed about this decision, but they have defended their actions and stand by their decision to hand Rangers that money to help them while fans were still banned from the stadiums.
“The Scottish Government agreed in February 2021 to provide The Rangers Football Club Limited with a credit facility of £1.818 million. This was funded from the initial £20 million Premiership Division Support Fund, part of the £55 million emergency sports funding package put in place by the Scottish Government to tackle lost ticket revenue during the pandemic.”
Rangers benefit from the Government.
Although it was only a small amount of money in the grand scheme of things, it is clear that the SNP believe that this covered the Gers’ usual income from fans.
So, it was an important loan, and though it does need to be paid back, the Gers have until 2042 to pay all of the money back, which is a very generous time limit.
It is interesting that they had to defend the decision, but they provided a very comprehensive and clear response showing exactly why Scottish clubs received the money they did.
Given the size of Ibrox and the number of Gers fans in Scotland and beyond, it is no surprise to see that they got the biggest loan, and the SNP made the right decision here.
Now, given that directors and high-ranking officials can’t receive a pay rise until the money is paid back, we would be surprised if the club used the full time limit to return the funds.
In other Rangers news, a key figure could be set for a move down south to further his career.