Don’t miss the latest developments in business and finance.

England's Rugby League clubs given 16m emergency loan

Image
AFP London
Last Updated : May 01 2020 | 9:14 AM IST

England's Rugby Football League have been given a 16 million ($20 million) emergency loan to help deal with the financial fall-out from the coronavirus.

The British Government have sanctioned the cash injection as the Super League and lower division seasons remain suspended with no return date due to the on-going pandemic.

Oliver Dowden, Secretary of State for Digital, Culture, Media and Sport admitted the loan was vital to save Rugby League teams from financial meltdown.

"This is a massive shot in the arm to secure the survival of rugby league," Dowden said.

"We recognise that many RFL clubs operate on very tight financial margins.

"Without their ability to stage matches with spectators and despite the Government's extensive economic package, the professional game has come very close to collapsing.

"Sports across the board are facing unprecedented pressures, and we are supporting them through wider Government measures.

"In this case we are intervening as an exception, not to save an individual business or organisation, but to protect an entire sport, the community it supports, the World Cup held here next year and its legacy for generations to come."

Also Read

First Published: May 01 2020 | 9:14 AM IST

Next Story