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Premier League Club

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Supporting British businesses

Throughout the Covid-19 pandemic, Paragon has continued to support SMEs across the events industry as they recover from the effects.

Through the Recovery Loan scheme, we provided £600,000 to a top Premier League club to finance brand-new cutting-edge LED floodlights for its stadium. 

How Paragon helped

The deal will allow the club to upgrade its lighting system with the new state-of-the-art floodlights, enabling the London based football club to reduce its lighting energy usage by up to half.

The new top-of-the-range lighting system is also designed to facilitate 4K camera filming for broadcasters thanks to its flicker-free technology, as well as improving uniformity and light levels on the pitch. It also includes a new entertainment system that facilitates light entertainment for crowds.

It will meet the UEFA Elite A category standards, which are the highest requirements set forth by UEFA.

The floodlight system was manufactured by Musco Lighting Europe Limited, a leading sports lighting manufacturer that has serviced a range of sporting event spaces, including Twickenham Stadium and Newcastle Racecourse. 

The funding deal was provided through the Government's Recovery Loan Scheme (RLS), which aims to power the recovery of businesses impacted by the pandemic. Paragon Bank was one of the first funders to be approved by the British Business Bank to offer the scheme.

It was brokered through Buckingham Leasing, a leading supplier of business finance that counts sports facility finance as one of its specialisms.

Steven O'Reilly, Business Development Manager at Paragon Bank, said: "The sports industry was heavily impacted by the pandemic, so it's fantastic to offer a leading Premier League club funding that will support it in offering its fans an even better experience. This was made possible with the support of Buckingham Leasing's extensive expertise in the field of sporting finance. 

"Thanks to the introduction of the Recovery Loan scheme, we are increasingly able to offer solutions for innovative equipment that will help future proof businesses and transform them for the better as they focus on their post-COVID growth."

Jack Bridges, Broker at Buckingham Leasing, said: "Securing funding for stadium refurbs and upgrades often involves large-scale and complex transactions so it is helpful to have specialist expertise in this field. We have vast experience in pitch transformation spanning more than 30 years' and we are delighted to have added another Premier League team to our list of clients."         

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551