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 Kilmarnock
Topic Originator: Buspasspar  
Date:   Wed 20 Jan 09:21

Worrying times for Killie and many others I suspect :-

Kilmarnock are to apply for a £1m loan from the Scottish government to ensure the club survives this season.

Owner Billy Bowie said the impact of the Covid-19 pandemic has forced directors of the Scottish Premiership club to provide finance to address cash flow problems and pay the bills.

Bowie confirmed the club will utilise the Scottish government`s emergency sports fund.

"I`m sad to say that we`re forecasting a seven-figure deficit," he said.

"We`ve agreed to seek the government loan for £1m, which to be honest, goes against the grain with myself as I don`t want to see the club going back into bank debt.

"We`re working hard and until now the directors in our organisation have been creating funds to pay the bills and everybody has been paid. Players` wages are being paid on time, but going forward we have identified that there is going to be a cash flow shortage.

"We also have our business interruption insurance clam and we are hoping we can get an interim payment from that to carry us through.

"Between myself and other directors we are looking at trying to get funds to keep the club going. We will keep the club going until the end of the season."

We are forever shaped by the Children we once were
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 Re: Kilmarnock
Topic Originator: GG Riva  
Date:   Wed 20 Jan 09:57

That's very concerning. I can't imagine that Killie are unique in this situation. Other than Celtic (and possibly Rangers) almost every other club will possibly be in the same boat.



Not your average Sunday League player.
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 Re: Kilmarnock
Topic Originator: veteraneastender  
Date:   Wed 20 Jan 11:12

Why can`t they apply to a commercial bank or financial institution for a loan like any other business ?

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 Re: Kilmarnock
Topic Originator: widtink  
Date:   Wed 20 Jan 11:18

"Business interruption insurance clam".... I'm intrigued 🤔




Post Edited (Wed 20 Jan 11:19)
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 Re: Kilmarnock
Topic Originator: AdamAntsParsStripe  
Date:   Wed 20 Jan 11:20

Quote:

veteraneastender, Wed 20 Jan 11:12

Why can`t they apply to a commercial bank or financial institution for a loan like any other business ?


I can't imagine banks will be eager to loan a million quid to football clubs in a pandemic.
I'd also imagine Killie will prefer an interest free loan which is why they go down this route.

Zwei Pints Bier und ein Päckchen Chips bitte
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 Re: Kilmarnock
Topic Originator: veteraneastender  
Date:   Wed 20 Jan 11:27

"I can`t imagine banks will be eager to loan a million quid to football clubs in a pandemic.
I`d also imagine Killie will prefer an interest free loan which is why they go down this route."

There are many struggling businesses who would like an interest free loan from public funds - why should a football club be a special case ?

I wonder if the players have been asked if they are prepared to take a wage cut to help the club through these troubled times ?

Playing Devil`s Advocate here.



Post Edited (Wed 20 Jan 11:51)
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 Re: Kilmarnock
Topic Originator: Kdy Par  
Date:   Wed 20 Jan 11:39

Quote:

widtink, Wed 20 Jan 11:18

"Business interruption insurance clam".... I'm intrigued 🤔


Dundee have this and are about to receive a pay out. As a result they were able to refund season ticket holders for games missed last season.
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 Re: Kilmarnock
Topic Originator: jake89  
Date:   Wed 20 Jan 12:46

Celtic are more deserving
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 Re: Kilmarnock
Topic Originator: Polt  
Date:   Wed 20 Jan 18:31

Quote:

Kdy Par, Wed 20 Jan 11:39

Quote:

widtink, Wed 20 Jan 11:18

"Business interruption insurance clam".... I'm intrigued 🤔


Dundee have this and are about to receive a pay out. As a result they were able to refund season ticket holders for games missed last season.


Aye apparently a big case heard at the supreme court and went against insurance companies. Therefore they need to meet the claims

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 Re: Kilmarnock
Topic Originator: DrumRoad  
Date:   Wed 20 Jan 19:06

Absolutely zero chance a bank would loan a football club £1 million in the current covid crisis, sadly they are not a charity. The “business interruption” clause in insurance policies is also an option if they are eligible

2015/16 League one Winners
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 Re: Kilmarnock
Topic Originator: ft media  
Date:   Wed 20 Jan 20:17

there are interest free loans, from banks but government secured.
I presume this is what the Killie guy is hoping for

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 Re: Kilmarnock
Topic Originator: veteraneastender  
Date:   Wed 20 Jan 22:36

So if Killie go under (God forbid) the public purse is £1 million out of pocket ?

Why not a regular loan with security - Rugby Park as collateral ?

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 Re: Kilmarnock
Topic Originator: neils  
Date:   Thu 21 Jan 06:05

You do know the whole lot, furlough etc is through the public purse?

Football is as deserving of public funds as any other business.

And, yes, it has to be paid back or written off- and again, many businesses will go under and can`t pay back.

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 Re: Kilmarnock
Topic Originator: P  
Date:   Thu 21 Jan 06:14

Why specifically exclude football when these are available across many other business types?


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 Re: Kilmarnock
Topic Originator: PARrot  
Date:   Thu 21 Jan 06:58

Quote:

widtink, Wed 20 Jan 11:18

"Business interruption insurance clam".... I'm intrigued 🤔


I'm intrigued too. Definately a pearl of wisdom taking out this kind of insurance.

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 Re: Kilmarnock
Topic Originator: veteraneastender  
Date:   Thu 21 Jan 13:11

"Why specifically exclude football when these are available across many other business types?"

Please refer to my last comment yesterday, 11:27am.

Just trying to initiate a discussion.

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 Re: Kilmarnock
Topic Originator: eastendalloapar  
Date:   Thu 21 Jan 14:00

If Kilmarnock are in a perilous state, I wonder how many are in a similar way. Dundee United have asked for a wage reduction, how many are also struggling?

matt forsyth
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 Re: Kilmarnock
Topic Originator: Rigger Al  
Date:   Thu 21 Jan 14:16

What im not understanding is some teams are pleading poverty which is understanding .Some clubs having wage cuts to existing players but still involved in buying new players ,Even if getting on a free they still have to find the salaries .
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 Re: Kilmarnock
Topic Originator: davepars  
Date:   Thu 21 Jan 16:56

On a similar subject to above, it will be interesting to see who Celtic sign after placing their under 18`s on furlough.
Think they may have splashed some cash on a holiday recently too?

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 Re: Kilmarnock
Topic Originator: the saline hill puma  
Date:   Thu 21 Jan 17:01

Quote:

davepars, Thu 21 Jan 16:56

On a similar subject to above, it will be interesting to see who Celtic sign after placing their under 18`s on furlough.
Think they may have splashed some cash on a holiday recently too?


I'd Imigine the younger age groups being put on furlough is more to do with being unable to play and train due to restrictions being imposed rather than not being able to afford the wages ect
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 Re: Kilmarnock
Topic Originator: jake89  
Date:   Thu 21 Jan 17:41

Very little sympathy for the likes of Dundee Utd. They saw what happened with us and their neighbours (twice?) so it should be a lesson!
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 Re: Kilmarnock
Topic Originator: Rastapari  
Date:   Fri 22 Jan 07:27

This is the beginning the end for Scottish football, fans aren't getting back, only the top money or brands will survive, I'll take bets.

Carole Baskin fed Rasta to a tiger.
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 Re: Kilmarnock
Topic Originator: DA-go Par Adonis  
Date:   Fri 22 Jan 08:27

I'll bet you a 2025/2026 Pars season ticket.

----------------------------------------------------------------------------------------------
I love it when we go sell Kevin Nisbet,
He's gonna pay for everyone this season.
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