THE UK government has announced a £300m support package to help spectator sports and venues avoid bankruptcy as a result of the COVID-19 pandemic. Within the package is a fund of a reported £6m that is being earmarked for motorsports venues.
With guidelines on social distancing meaning much of 2020’s sporting events were either cancelled or played out behind closed doors, the financial pressure placed on venues this year is truly unprecedented.
After coming under pressure from key stakeholders in the industry, the UK government has come up with the Sport Winter Survival Package, which is being launched to try and protect their futures.
Of the £6m being set aside for motorsports venues, the businesses set to benefit are Silverstone, the BARC (British Automobile Racing Club), Goodwood, and MSV.
Oliver Dowden, Secretary of State for Digital, Culture, Media and Sport, said:
“Sports clubs are the beating hearts of their communities, and this £300 million boost will help them survive this difficult winter period.
“We promised to stand by sports when we had to postpone fans returning. We are doing just that by delivering another £300 million on top of existing business support schemes.
“Britain is a sports powerhouse, and this Government will do everything we can to help our precious sports and clubs make it through COVID-19.”
Preliminary allocations have been made on a needs-based assessment process and reflect the submissions made from the individual sports, and the funding process will be overseen by an independent decision-making board and supported by Sport England.
