Back of the net! Stadium MK Group secures funding package
Stadium MK Group, home to MK Dons football team, has secured 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.
Stadium MK Group was established in 2004 to bring League football to Milton Keynes and was tasked with developing a stadium for the new town. With top-class business and public events including conferences and exhibitions across a wide range of industries the company contributes to the sporting, cultural and economic development of the community of Milton Keynes.
The funding package enabled Stadium MK Group to become the first venue in the UK to stage live professional sport – Championship League Snooker – on network television during lockdown. Employing a team of around 700, the finance also means the Group is able to retain the majority of its staff and can plan for future sporting and hospitality events.
Pete Winkelman, chair, Stadium MK Group, 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.”
The stadium has played host to the highest level in sport including the Rugby World Cup, Women’s FA Cup Final, football internationals, and regular professional football through MK Dons. Recent concerts at the stadium have featured Rammstein, Take That, and Rod Stewart.
Opened in 2007 by Her Majesty Queen Elizabeth II, Stadium MK is a 30,530 seat stadium in Milton Keynes. Stadium MK is also home to the 304 bedroom DoubleTree by Hilton Milton Keynes; a 3,420m2 indoor arena, Marshall Arena; Marco Pierre White Steakhouse Bar & Grill Milton Keynes; and MK Dons Sport & Education Trust.
