Shock as £5M bailout threatens to liquidate SFA
NICE, FRANCE - JUNE 09: Nicola Sturgeon, First Minister of Scotland looks on from the stands prior to the 2019 FIFA Women's World Cup France group D match between England and Scotland at Stade de Nice on June 09, 2019 in Nice, France. (Photo by Marc Atkins/Getty Images)
There is shock in the air after the £5M bailout the Scottish FA sought from the government now threatens to sink the Scottish game completely, after it emerged the governing body of the game north of the border has absolutely no way of paying it back.
In curious echoes of 2012 when Rangers suffered ignominy at the hands of creditors after failure to repay loans, the Scottish FA have now run into their own financial difficulties and have no funds whatsoever to repay the megabucks loan.
Which means, realistically, the entire governance of the game in our nation is under serious threat and could be expunged entirely.
Over the last 24 hours it’s been confirmed the SFA are considering redundancies, but in all seriousness we’re not exactly sure what difference removing £20K a year Jane from accounts will do to help pay back a gigantic loan the SFA have simply not and never will have the funds to repay regardless.
What does this mean?
It’s reality – SFA is a profit-based commercial group, which no one is touching with a bargepole due to the dire performance of its sister group the SPFL, and as such the heads of our game could very well find themselves literally liquidated.
Which means if there’s no association left to rule the Scottish game, Rangers will have to leave.
We know the global crisis has mucked a lot of things up but we’re pretty sure no other FAs have ended up in the absolute calamity ours has.
It’s diabolical and we’re surprised it’s not being covered more.