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Regular-article-logo Saturday, 20 April 2024

Fifa plans emergency fund

A Fifa spokesperson said they were aware of 'serious financial problems on account of the coronavirus outbreak'

Agencies Manchester Published 31.03.20, 09:17 PM
Fifa boss Gianni Infantino

Fifa boss Gianni Infantino File picture

Fifa are working on the details of a “Football Marshall plan” to deal with the financial fallout from the coronavirus pandemic, which will almost certainly result in them dipping into their $2.7 billion reserves.

World soccer’s governing body have set up a working group to look into the myriad issues thrown up by the halting of the game across the globe, and this week they are expected to focus on ways in which they can help give a cash boost to those struggling.

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A Fifa spokesperson said they were aware of “serious financial problems on account of the coronavirus outbreak.”

“This threatens to disrupt and impair the ability of Fifa’s member associations and other football organisations 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.”

The spokesperson added that due to Fifa’s strong financial situation, the body has a duty to help those in need. The exact format and details of this assistance have yet to be decided but this week will see further consultations with Fifa’s member associations, the continental confederations and other stakeholders.

Fifa president Gianni Infantino’s 2016 election campaign included plans to distribute the organisation’s resources. At the time he declared: “The money of Fifa is your money, it’s not the money of the Fifa president.”

Bundesliga’s hopes

German Bundesliga clubs on Tuesday approved measures to suspend the season for a further four weeks due to the coronavirus crisis, amid reports that games would resume from the first weekend in May.

Games had been halted since mid-March, but hopes are growing that they might resume a month from now.

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