Will the Minister outline why the four Welsh rugby regions are paying four times the rate of interest on COVID recovery loan funding from the Welsh Government than English Premiership clubs are paying the UK Government?
Answered by Deputy Minister for Arts, Sport and Tourism | Answered on 20/12/2023
The Welsh Government does not have a loan arrangement with any of the Welsh regional rugby clubs. The Welsh Government was approached by the WRU to buy out their UK Government CLBILS loan to help with the affordability of repayments. The loan agreement reflects standard commercial terms and conditions and was agreed by both parties.