FIFA ready to contribute billions to cope with Covid-19 fallout

MADRID, 1 April 2020:

FIFA yesterday confirmed it is looking to help the global soccer community cope with the massive economic fallout from the coronavirus pandemic.

The governing body of world soccer said it is working out the exact format and details of that aid with continental confederations, FIFA’s member associations and other stakeholders.

“FIFA is in a strong financial situation and it’s our duty to do the utmost to help them in their hour of need,” a spokesperson for the organisation said. “FIFA is working on possibilities to provide assistance to the football community around the world after making a comprehensive assessment of the financial impact this pandemic will have on football.”

Some media outlets have said the aid package may amount to €5 billion.

The financial problems stemming from the Covid-19 pandemic threaten to “disrupt and impair the ability of FIFA’s member associations and other football organizations such as leagues and clubs to develop, finance and run football activities at all levels of the game, including professional, non-professional, youth and grassroots,” FIFA said.

“It is foreseen that in many parts of the world a considerable number of persons involved in football including both men and women players will be left in extremely difficult economic conditions.”

President Gianni Infantino issued a statement on March 17 announcing that “thanks to its solid financial situation, FIFA is in a position to propose proactive solidarity measures specifically targeting the coronavirus disease crisis.”

Specifically, he said he will suggest “a direct US$10 million contribution from FIFA to the World Health Organization WHO Covid-19 Solidarity Response Fund” and promote the possibility of establishing a Global Football Assistance Fund to help crisis-hit members of the global soccer community.

Infantino also said he will encourage “everyone in football to contribute to these efforts.”

He also announced that FIFA will consult with professional soccer stakeholders with a view to announcing any necessary amendments or temporary dispensations to the “Regulations on the Status and Transfer of Players” to protect contracts for both players and clubs.

– EFE