The fund, under the proposed name of ‘SportsFunder’ would enable clubs to borrow low interest capital to take ownership of facilities or develop their own.
The survey will ask clubs what their aspirations for the future are, whether they have interest in taking ownership of facilities or developing their own and how much interest they’d be willing to pay on a social investment to make it a reality. It is proposed that groups applying to the fund will need to demonstrate how the finance will enable them to deliver greater benefit to the wider community.
Andrew Jenkin, Head of SD Scotland, said “We as an organisation believe sport clubs can offer vast sums of community and social development yet many are prevented from developing as a result of being caught in a continual cycle spending much of their income on facilities. We hope the formation of a thematic fund such as we’re proposing will enable clubs to deliver greater value to society.”
“This research will allow us to map out how we can establish a Fund for groups who have raised some funding, but need more to make it a reality. Scotland is already ahead of the curve in terms of sport clubs at all levels essentially acting as social enterprises that are tackling societial issues through their activities and we hope to enable this further.”
Following the survey, SD Scotland will compile the results and examine the next steps in the formation of a social investment to determine its feasibility. The survey will be open until Sunday the 17th of September.