April 28, 2020 | less than a minute read

COVID-19: Funding considerations for stakeholders in the sports sector

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Joe Riches

Associate

Get in touch

Joe Riches

Associate

Our team recently presented a webinar based on a recent article we published on the key funding considerations for stakeholders in the sports sector as they look to alleviate the financial impact of COVID-19. The webinar focussed on the availability of UK Government support, the application of EU Regulations and state aid considerations and directors' duties in the context of the outbreak of COVID-19. We also looked at how the postponement and cancellation of sporting competition has affected particular sports, with a focus on football, rugby union and horse racing.

A recording of the webinar is available here and can also access our recent publication on the subject here: https://www.dlapiper.com/en/asiapacific/insights/publications/2020/04/impact-of-covid-19-on-the-sports-sector/

If you have any queries on any of the topics discussed, please do get in touch with the speakers.

The panel will discuss the availability of financial support in the UK for companies affected by COVID-19, such as the UK Government’s recently announced Coronavirus Large Business Interruption Loan Scheme, Coronavirus Business Interruption Loan Scheme and the Covid Corporate Financing Facility. Consideration will also be given to European state aid regulations and competition law in light of any action taken by sporting governing bodies. In view of the financial impact on companies operating in the sports sector, the panel will discuss directors’ duties and consideration of the interests of the company’s creditors in the context of any financial difficulties.