FIFA estimates losses of $ 14 billion from COVID

FIFA estimates losses of $ 14 billion from COVID. The health crisis takes its toll on sports, especially football. Of the 211 national associations that make up FIFA, 150 and four confederations have requested aid from the COVID-19 Support Plan. The organization’s program has $ 1.5 billion in grants and loans.

$ 1 million grants

The Chairman of the FIFA COVID-19 Support Plan Steering Committee, Olli Rehn, has announced grants of $ 1 million for associations in need. In addition to 2 million for confederations and 500,000 dollars more for women’s football. “FIFA reacted to mitigate the dramatic effect of the pandemic on football and its economy. It is in a strong financial position and the entire organization is committed to it,” explained Olli Rehn.

The Support Plan allows any federation to have a solidarity grant of 1 million dollars. The grant is made in two payments. Women’s football, as we have explained previously, has a third grant of an extra $ 500,000. Financial aid must be used for activities aimed at restarting and protocol competitions, hiring personnel, conserving sports infrastructures and to defray administrative expenses.

Interest-free loans

In addition, federations that request it may have interest-free loans of up to 35% of their audited annual income prior to March 1, 2020. Any federation may request loans up to a total of $ 500,000. In no case may you request grants of more than 5 million euros.

The paralysis of football during these months has caused millions in losses both in Europe and in South America. FIFA estimates losses of $ 14 billion from COVID. “Member clubs and associations in Europe were the most affected in absolute terms, but relatively they have suffered more outside Europe, especially in South America,” said the president responsible for the COVID-19 program at FIFA.

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