SPL pay reduced cash to 12 clubs

THE SPL has finally distributed the delayed broadcasting and sponsorship money it owed to the 12 top-flight clubs.

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Around £350,000 per team left the governing body's bank account yesterday and is due to arrive with the clubs today. The £1.8 million owed to the Scottish Football League as part of the annual settlement agreement, which was also late, has been paid.

Normally each club receives almost £700,000 at this point but the reduction in television money and the fact not all of the commercial income has yet been received by the SPL means clubs must make do with only half the usual sum for now.

The money was due in at the start of August, but the SPL admitted to a cash-flow problem and even told clubs there was no way of knowing when they would receive their funds.

The upheaval was due to Rangers being removed from the SPL and the subsequent uncertainty and need to

redraw television and sponsorship contracts, especially with Sky and ESPN.

Even after those deals were done there was a delay in receiving the money before all the paperwork was signed, but that has now happened and funds have started to arrive.

The next batch of payments are due in January but, because the August figure was so much lower than usual, that is likely to be reviewed and clubs should receive funds sooner than that.

Finance

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