£29m in bailout loans not expected to be recoveredEngland full-back Furbank doubtful for Six Nations
Premiership rugby clubs who “have been teetering on the edge” are set to come under further scrutiny by the government over the repayments of their £124m Covid bailout loans.
A report by the National Audit Office details how the Department for Culture, Media and Sport [DCMS] awarded 26% of its £474m loans to Premiership clubs, including £41.6m to Worcester, Wasps and London Irish, who have all since gone bust. According to the report, they are three of nine borrowers who in total received £46.1m and their collective demises mean that the DCMS does not expect to recover up to £29m in loans awarded.
About Author
More Stories
How Manchester City went from world’s best to straw men in 12 months | Barney Ronay
Olympic snowboarder Sophie Hediger dies in avalanche accident
Mouse problem compounds Manchester United’s Old Trafford woes