The Scottish Rugby Union (SRU) is to look seriously at selling Murrayfield – the home of Scottish rugby – in an effort to keep on top of spiralling debts.
The SRU is more than £25m in debt, and has to fund the running of Murrayfield, at around £6m a year, revealed SRU chief executive, Gordon McKie.
McKie said that several options were being considered, including the sale of naming rights to the stadium, which has hosted Scottish rugby since 1925, and the sale of land surrounding the venue, although there are issues to be resolved on the construction of a flood barrier.
McKie said: “We aren’t saying we have to clear the whole £25m overdraft overnight, but we pay £1.5m in interest and that is simply too much, so we have to bring it down. A sale and lease-back may be the preferred option.”
