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$10 million dollars for PLCA from SDF
The Sports Development Foundation has granted $10 million to the Premier League Clubs Association to assist in closing the gap in its budget for the year 2007-2008 which ends on May 11.
An application was made to the SDF for support to replace the shortfall which occurred when the Cash Plus programme was terminated. The gap was $28 million at that time but the application was intended to cover only $10 million of this amount as other arrangements were dealing with the balance.
Mr. Seaga, Chairman of the PLCA, said “this was misunderstood and the SDF thought that the request was for the entire $28 million. On this basis the application was turned down at first but it has now been granted based on the amount of $10 million as originally requested “.
Half of the amount will be used as direct assistance for the Clubs and the other half will be applied to other expenses of the PLCA.
Mr. Seaga noted that with this grant of $1 million, the budgetary gap of the PLCA has now been closed for the year.
‘”We are pleased that the SDF could support us in this period when a difficult situation arose by making a one-time grant” said Mr. Seaga.
Edward Seaga
Chairman PLCA
April 28, 2008
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