THE Scottish FA have welcomed the £55million cash fund that will be made available to Scottish sport following an announcement by the First Minister.

Most of the money has been earmarked for football and Premiership clubs will have access to £20million worth of loans, while grants totalling £10million will be made available to the clubs at all over levels, including women’s football.

There is a £15million grants boost for Scottish rugby, while a further £5million will be made available in loans as our two main national sports finally receive financial assistance from Holyrood.

Elsewhere, horse racing will have £2million in grants available, while £2million will be granted to ice rinks and a further £200,000 has been earmarked for ice hockey. Grants will also be given to motor sport (£400,000), basketball (£300,000) and netball (£100,000).

Joe FitzPatrick, the Minister for Public Health, Sport and Wellbeing, praised the the announcement on Thursday and SFA President Rod Petrie is encouraged by the deal.

He said: “Today’s announcement recognises the importance of our national sport at all levels of the senior game.

"The Minister has said that the Scottish Government is to provide funding via grants and loans and we eagerly await details of the conditions which are attached to both.

“We stand ready to work quickly with sportscotland to ensure that the funding can be accessed by all clubs as efficiently as possible.”