Motorsport UK's COVID-19 Fund

£1 Million fund for Motorsport UK Clubs

Earlier this week, Motorsport UK announced a £1 million funding package to help its motoring clubs address the financial consequences of the COVID-19 outbreak.

 

The sport relies on the gathering of its members and fans in order to function, with lockdown implemented, this has left motorsport grounded and clubs without income. The Motorsport UK funding is therefore being provided in order to offset the economic impact that the global pandemic has wrought across the sport.

 

In recognition of this, the Motorsport UK Board has agreed to allocate £1 million of direct funding to support the community. Motorsport UK say that the investment will be used to create two funds, each valued at £500,000, to provide loan and grant support to Motorsport UK clubs through this challenging period.

 

Motorsport UK logo

A Motorsport UK panel will review each application and decide the amount to be awarded and whether they shall receive funding from the Motorsport UK Club Continuity Loan Fund or The Motorsport UK Club Continuity Grant Fund.

 

The Continuity Funds have been created to support clubs who are most at risk due to the pandemic. Such clubs may be awarded funding from either stream up to a grant value of £10,000 or a maximum loan value of £25,000.

 

However, Motorsport UK says that during this time, clubs are expected to use all government guidance and support available to them before considering applying for the funds.

 

silverstone pit lane

Currently Motorsport among other sports is in complete lockdown until at least the end of June 2020. However, this is subject to how well the UK and indeed the world copes with the pandemic over the next month. Motorsport UK is providing its members and clubs with frequent updates regarding a possible return to normal date. More information can be found on their website: https://www.motorsportuk.org/covid-19/

 

We hope for a quick return, but in the meantime, it is important to look after everyone’s health both physically and mentally. Support the small businesses in our community where you can, whether it be through sharing their social posts or pre-ordering products/ services where possible.

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