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UEFA share-out 70 million to cope up with Coronavirus

UEFA is a big help to clubs as it has liberated 70milion euros, to compensate for the participation of their players in representative qualifiers for the European Championships.

According to the new plan, additional qualifications are due to be completed in October, but UEFA has already announced to transfer money to the club accounts. The expending of these funds was presumed to be after the completion of the additional qualifications, which were to be played in March but were detained due to the spread of coronavirus.

UEFA has decided to assist clubs to cope with the financial crisis caused by the COVID-19 disease epidemic.

Clubs whose players are part of 39 non-qualifying teams will be granted fifty million euros, clubs whose players are in the 16 additional qualifying teams will be awarded an additional € 17.7 million, and another 2.7 million will be share-out upon completion of the qualification process.

“In these difficult times, many clubs are facing financial difficulties, especially with liquidity. It was our duty to ensure that these clubs were paid out as soon as possible,” said UEFA President Alexander Cheferin for the UEFA site.

President of the European Clubs Association (ECA) Andrea Agnelli praised the reaction of the umbrella organization of European football.

“This represents a much-needed injection of liquidity for club finances and is the result of the joint work of ECA and UEFA to protect clubs from an existential threat.”

 

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