The UK Government Unveils Rescue Package Of $396m

The British government has unveiled a combine rescue package of £300 million ($396 million) which will be given to 11 sports hit hard by the COVID-19 pandemic. 

The financial support is set to be largely in the form of loans, the Department of Digital, Culture, Media and Sport said. Rugby union will receive the biggest single amount – £135m. Of that, £44m will go to the Rugby Football Union, £59m to Premiership Rugby clubs, £9m to clubs in the Championship and £23m to clubs below the Championship. Horse racing will receive £40million to support racecourses unable to welcome visitors.

Football as a whole will not completely miss out on state funding, however, with Football’s National League at steps one and two – which has already benefited from £10m in National Lottery funding to assist through to the end of 2020 – receiving a further £11m to cover the period between January and the end of March.

Sports Minister Nigel Huddleston said: “Over the past few weeks we have worked tirelessly with sport governing bodies and clubs across the country to fully assess what support is needed, as a result of the decision to postpone the return of fans.

“We know the vast majority of sports – many of which operate on tight financial margins – have been making serious cost reductions, such as locking down grounds, taking up the furlough scheme for many staff and halting excess payments.”