National League Clubs presented with a tough decision to make
21.01.2021
The National League Clubs have recently been under a lot of financial stress. Yesterday, the clubs were informed that they had mistaken the 11 Million pounds of government support being given to them, as grants and not loans. Many clubs agreed to go ahead with the current season only due to this slight misconception.
The clubs were presented with three options to choose from by the League to keep them afloat. This has left them in a very difficult position.
The first option allows the club to apply for loans from Sports England. This loan will be repayable over a period of 10 years with an interest rate of two percent with no interest in the first two years, should the club members choose this option.
The second option looks to the National League to take a loan from the Department for Digital, Culture, Media, and Sport. The money lent to the National League will be given out to the clubs as grants. This solution, although imminent, will affect future distributions to come in the upcoming years. This is because the National League would be responsible for the repayment of the loan.
The third option is the most disheartening one. The third solution is to postpone the season. This would allow clubs that are under financial stress to apply to Sports England for financial help.
Source: nonleaguedaily.com
