The money is effectively an extension of a scheme put in place back in November called the Sport Winter Survival Package, which also saw £300m of Government cash invested.
The drive is primarily designed as a way to help professional clubs and sporting bodies who have seen their financial plans ripped up during the pandemic, with fans barred from stadiums.
The money will be allocated through an independent board led by Sir Ian Cheshire, the former chairman of Barclays Bank.
Sports whose seasons take place over summer time, such as cricket and tennis, were largely overlooked for more urgent needs in the Winter funding package but are now expected to be at the front of the queue.
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ALDERSHOT chairman Shahid Azeem has slammed the government for “moving the goalposts” on non-league football funding, but says a decision from cash-starved clubs on the National League season should be imminent.
The 66 clubs from the National League, National League North and National League South have been asked by the league to decide the outcome of the season, after it was revealed that £11 million due to be offered as part of the government’s Sports Winter Survival Package would be in the form of costly loans, rather than grants.
Clubs have about a month to consider their position and vote. But given the severity of the situation, with the National League North and South in the midst of a two-week suspension, Azeem expects a swift outcome.