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Coronavirus: FIFA ready to set up emergency fund

2020-03-31T16:13:29.146Z


THE SCAN SPORT - To save football in the midst of a financial crisis, FIFA should create an emergency fund of several million euros, according to The New York Times.


Today, world football is going through the worst financial crisis in its history due to the coronavirus epidemic that is raging around the world. While several players are looking for solutions to help clubs and federations, FIFA would be ready to create an emergency fund to help them.

$ 2.7 billion to save football

According to The New York Times , FIFA should constitute a fund from its own monetary reserves: near to 2,7 billion dollars. The body would like to use this money to protect the most affected parts of football. The objective would be to use this emergency fund through a strategy of redistribution and guaranteeing loans to teams and federations. The project would have to be approved by the FIFA Council and, if approved, would be the highest aid fund in sport history.

Unprecedented financial distress

With the epidemic of coronavirus which affects the planet, the football championships are stopped. Some clubs opted for partial unemployment but others had to resort to redundancies, like the Uruguayan Federation which was forced to dismiss 400 members of staff, for lack of activity. Faced with this historic financial crisis in the world of football, the seven-time champion of Slovakia, MSK Zilina has even placed itself in liquidation.

Read also

  • Coronavirus: Footballers' market value collapses by 28% in Europe

Source: lefigaro

All sports articles on 2020-03-31

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