Covid loans from government

[Hibs07p]

Hibs due to pay £145,000 per year for the next 20 years if they used their full drawdown.

https://www.thescottishsun.co.uk/sport/football/7284035/rangers-loans-covid-celtic-premiership-government/

CLUB AGREED CREDIT FACILITY AMOUNT
1) RANGERS £3.2M
2) ABERDEEN £3.119M
3) MOTHERWELL £2.959M
4) HIBERNIAN £2.882M
5) DUNDEE UNITED £2.818M
6) ST JOHNSTONE £2.6M
7) KILMARNOCK £1.828M
8) LIVINGSTON £1.783M
9) ST MIRREN £1.764M
10) ROSS COUNTY £1,158M
11) HAMILTON ACCIES £1.151M
12) CELTIC NIL

It said: “This loan is interest free and to be repaid in equal monthly instalments commencing September 1, 2022 and continuing to August 2042."

“No club received any more than their losses as a result of the pandemic. As clubs will have different outlays and running costs, the value of the loans varied between clubs.

“It is important to note that these are loans which will have to be repaid by all borrowers over an agreed timescale.

“The Scottish Government is providing the top-flight clubs with a credit facility.

“But not all clubs have fully drawn down on their credit facility yet and they have until July 31 to do so.”

GGTTH
Scottish Cup Winners 2016

[CapitalGreen]

Hibs due to pay £145,000 per year for the next 20 years if they used their full drawdown.

https://www.thescottishsun.co.uk/sport/football/7284035/rangers-loans-covid-celtic-premiership-government/

CLUB AGREED CREDIT FACILITY AMOUNT
1) RANGERS £3.2M
2) ABERDEEN £3.119M
3) MOTHERWELL £2.959M
4) HIBERNIAN £2.882M
5) DUNDEE UNITED £2.818M
6) ST JOHNSTONE £2.6M
7) KILMARNOCK £1.828M
8) LIVINGSTON £1.783M
9) ST MIRREN £1.764M
10) ROSS COUNTY £1,158M
11) HAMILTON ACCIES £1.151M
12) CELTIC NIL

It said: “This loan is interest free and to be repaid in equal monthly instalments commencing September 1, 2022 and continuing to August 2042."

“No club received any more than their losses as a result of the pandemic. As clubs will have different outlays and running costs, the value of the loans varied between clubs.

“It is important to note that these are loans which will have to be repaid by all borrowers over an agreed timescale.

“The Scottish Government is providing the top-flight clubs with a credit facility.

“But not all clubs have fully drawn down on their credit facility yet and they have until July 31 to do so.”

GGTTH
Scottish Cup Winners 2016

On those terms it’s a no brainier to take the full amount imo.

[EI255]

Surprised Morcerwell took so much

Sent from my LG-H870 using Tapatalk

[Hibs07p]

On those terms it’s a no brainier to take the full amount imo.

I agree, equates to one player on about £2800 pw, and safeguards the club short term for little outlay. I think our business model, with little or no debt will allow us to repay sooner if it allows us, so I don't expect it to be a long term debt.

GGTTH
Scottish Cup Winners 2016.

[CropleyWasGod]

The Club drew down £1.8m from this facility in February.

[Hibs07p]

The Club drew down £1.8m from this facility in February.

Do you think thats the total they need to take, or might they take more?


GGTTH
Scottish Cup Winners 2016

[Lee Marvin]

On those terms it’s a no brainier to take the full amount imo.

Exactly. Its actually an error not to take the full amount on those terms.

[CropleyWasGod]

Do you think thats the total they need to take, or might they take more?


GGTTH
Scottish Cup Winners 2016

They've said that, on the basis of their most pessimistic forecasts, they have enough cash to get them through until June 2022. That's taking into account the amount they have already received.

[Billy Whizz]

They've said that, on the basis of their most pessimistic forecasts, they have enough cash to get them through until June 2022. That's taking into account the amount they have already received.

Have you heard if the insurance claim LD out in place, was successful and paid to Hibs?

[CropleyWasGod]

Have you heard if the insurance claim LD out in place, was successful and paid to Hibs?

Don't know that.

In March, they "forecast significant cash" from that policy.