Dons owners secure seven-figure funding to weather coronavirus storm

"We’re delighted that the business can start planning future sporting and hospitality events.”

By Toby Lock
Thursday, 18th June 2020, 11:28 am
Updated Thursday, 18th June 2020, 11:31 am

The Stadium MK group, owners of MK Dons, have been handed a seven-figure Coronavirus Business Interruption Loan Scheme (CBILS) facility through Santander UK to meet cashflow issues, retain staff and plan future events as restrictions are lifted.

With next to no income over the last three months as a result of the COVID-19 pandemic, staff across the group have been furloughed, while the first team players agreed a 20 per cent deferral in their wages.

The company includes the hotel at Stadium MK and the Marshall Arena, which recently held the Championship League snooker competition.

Pete Winkelman

Chairman Pete Winkelman said: “The timely and effective support from Santander has enabled us to get back to work and start delivering events again, helping Stadium MK and Milton Keynes to take the lead in post-Covid19 recovery.

"The tremendous support of Santander has helped us to complement the positive effects of the Government’s Coronavirus Job Retention Scheme by allowing us to keep most of our talented and dedicated staff together and minimise the level of redundancies that we have had to undertake.”

Jon Everitt, Relationship Director, Santander UK, said: “Stadium MK saw its revenues cease overnight as the outbreak of Coronavirus hit the UK. We were in touch with the team there to assess their options and we’re delighted that the business can start planning future sporting and hospitality events.”

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