The Sporting Chance initiative
StockCo’s Sporting Chance initiative will give GST registered sports clubs an opportunity to create an additional revenue stream.
The Snapshot
- Up to 83% of sports clubs have suffered significant financial losses during COVID-19
- The Sporting Chance initiative is set to launch on 22nd of November
- Sporting Chance is expected to provide financial support for up to 20 sports clubs
The Detail
Graziers and sports clubs know the value of a patch of grass like no one else – especially during difficult times.
Surveys have found that up to 83% of sports clubs have suffered significant financial losses during the COVID-19 pandemic with 13% facing imminent closure.
StockCo’s livestock specialists have been providing graziers with financial facilities since 1995, allowing businesses to manage cash flow peaks and troughs, and we are excited to launch the Sporting Chance initiative.
This product will provide an opportunity for GST registered Australian regional sporting clubs to generate capital through livestock, giving them access to a 100% finance facility for purchases up to $50,000.
Club supporting farmers can sell livestock to the club at marking time and continue to graze as part of their normal operation. At sale they designate the livestock which are sold on behalf of the Sporting Chance club. Secondly purchased lines can be divided amongst participating farmers and ran as a normal livestock trade on behalf of the club.
The Sporting Chance initiative will be a game changer for clubs who want to introduce a new revenue stream without drawing on existing funds or increasing fundraising pressures.
Our National Business Development Manager Chris Howie says the initiative will aim to provide up to 20 sports clubs with much needed financial support each year.
“Sporting Chance will provide clubs with fantastic opportunities to bring in extra funding without all of the extra effort that usually goes into raising money,” he said.
“We know how important sports clubs are for community wellbeing, and we’re looking forward to developing long-term partnerships in this space and growing that positive impact.”
If you need additional funding for your sports club, StockCo is here to help. For additional information on the innovative Sporting Chance initiative, call Chris Howie on 0408 842 331.
