FIFA Estimates COVID-19 Costs Global Football $ 11 Billion | Football news




FIFA on Wednesday put COVID-19’s cost on football worldwide at $ 11 billion in lost revenue. The epidemic has already prompted more than 150 football associations to seek financial support from the $ 1.5 billion emergency relief fund set up by football’s governing body. Oli Rehan, President of FifaThe Coronovirus Steering Committee, the first-ever bare-laying true financial impact the virus has put in the game through stability inventory chaos, vacant stadiums and revenue loss of TV rights. “This is a large number and it covers the football economy as a whole, including all the youth academies,” said Rehan, a Finland politician and Governor of the Bank of Finland.

“It will affect as well next year, is a carry-over.”

“That’s why it is so COVID-19 The relief fund is not time-bound – they can request a loan later if needed, ”said Rehan, who is also the independent vice president of the FIFA Governance Committee.

He said that while Europe The hardest hit in terms of absolute costs was the union outside Europe which has “suffered more”.

“Especially in South America, many due to their relative means and spring to autumn season,” he said.

Last month, Andrea Agnelli, president of the European Club Association, estimated revenue of four billion euros for its member clubs in two years.

Each national association can request a FIFA grant of $ 1 million ($ 2mn for FIFA) plus $ 500,000 for women’s football.

Loans are available to national associations up to a maximum value of $ 5mn ($ 4mn for unions).

Rehan was tense that unlike the past, it was necessary that the funds available by FIFA “are being used for the right purposes”.

“Corruption has no place in football,” he said.

“Good governance is at the heart of this COVID-19 relief fund,” he said.

“We’ve made it clear for member associations. I know that some member associations have complained about heavy compliance procedures – I’m quite used to it. We need full compliance and we are globally known for auditing Working with companies. “

He gave some examples of how relief funds are already being used, such as in Thailand, where it has helped to resume national league competition, including a coronavirus test, but video assistant referees (VARs) ) To implement the technique as well.

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Mexico spent its $ 1.5mn grant on its National Women’s League, and in Brazil, the funds are supporting the testing program in the women’s competition.

And in Uruguay, money has forced the federation to help re-hire employees who were critical to its effective operation.

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