Celtic were the only SPFL Premiership club not to take up the offer of a 20 year interest free loan from the Scottish Government.
Initially £20m was made available but this increased to £25m with the top pay-out of £3.2m going to Douglas Park’s club at Ibrox with Hamilton Accies settling for £1.15m.
There are some very strange anomalies in the table published by The Sun with Motherwell taking a loan for £2.959m while St Mirren only took £1.764m.
On the surface it would seem strange that Celtic never took up the offer of a long term interest free loan.
In a document produced for loans to rugby clubs viewed by Video Celts there were three key conditions:
Should any of the conditions above be broken the loan has to be repaid in full. With Celtic’s Remuneration Committee (Ian Bankier, Brian Wilson and Tom Allison) regularly paying over £1m to their CEO the loan wouldn’t suit the club.
At Ibrox Dave King is waiting on repayment of a £5m loan by 31st of October this year, if that sum is repaid the company will have to repay the Scottish Government their £3.2m loan as well.
It is unclear if any securities were taken by the Scottish Government, in their last audited accounts the Ibrox club posted a £15.9m loss on increased turnover for the year to 30 June 2020.
CLICK HERE for full details of the loans in The Sun.