FIFA release $150 million funds to neutralise economic impact due to COVID-19
Breakaway European Super League 'would not be recognised' by FIFA
FIFA has decided to release large operational funds for 2019 and 2020 to its member associates as an initial step of a relief plan to neutralise the economic impact of the COVID-19. The news was confirmed by the soccer body on Friday.
The amount of the release operational funds to $150 million and will be divided among its 211 members. Each of them will receive $500,000.
The economy has been the worst hit due to standstill in global football due to the coronavirus pandemic.
"The pandemic has caused unprecedented challenges for the entire football community and, as the world governing body, it is FIFA's duty to be there and support the ones that are facing acute needs," FIFA President Gianni Infantino said here
“This starts by providing immediate financial assistance to our member associations, many of which are experiencing severe financial distress.
“This is the first step of a far-reaching financial relief plan we are developing to respond to the emergency across the whole football community.”
FIFA will soon be releasing the second instalment of the relief plan in July 2020. Member associates will receive full amount upon fulfilment of specific criteria.
“This immediate financial assistance should be used to mitigate the financial impact of COVID-19 on football in member associations, namely to meet financial or operational obligations that they may have towards staff and other third parties,” FIFA said.