Scottish football clubs have been granted up to £25 million in loans to help mitigate the drastic financial consequences of the pandemic, according to The Scottish Sun.
The report added that reigning Scottish Premiership champions Rangers loaned the largest amount of cash while Celtic were the only club that opted against taking a loan.
After releasing their latest share issue last month, Rangers revealed that they took a £3.2m loan.
They also asked supporters to help “future proof” the club by raising £6.75m with a minimum spend of £500 and a maximum of £100,000.
The pandemic has had a drastic effect on clubs throughout the world, with Scotland being no exception.
The loan received by the Gers could be vital in helping them to successfully defend their Scottish Premiership league title next season.
A logical reason why Celtic did not require a loan is due to their immense successes over the years.
The Hoops’ nine successive titles between 2011-2020 certainly would have served them well financially.
They also competed in the Champions League during that time which would have helped them financially.
Meanwhile, Celtic aim to bolster their squad this summer to help them regain the Scottish Premiership title under new manager Ange Postecoglou.
They will also need to part ways with a few players to build a stronger squad and raise cash.
Two players who have been strongly tipped for an exit from Parkhead this summer are Odsonne Edouard and Kristoffer Ajer.
SPFL Government Loans – By Club
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 Academical £1.151m
12) Celtic – Nil
Read: Euro 2020 Diary – Don’t mess with Locatelli, Hartson drops a clanger, Southgate’s kidding himself.
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