FIFA Plans to Create an Emergency Relief Fund
OREANDA-NEWS. New York Times reports that the leadership of the International Federation of Football Associations (FIFA) is discussing the possibility of creating a stabilization fund to support the football industry in times of crisis.
As it is specified in the publication, the fund will provide short-term loans and emergency grants to football clubs, and it will be managed independently of FIFA management. The foundation of the fund must be approved by the Council of the federation.
It is known that this idea began to take shape against the backdrop of the coronavirus epidemic, due to which major international competitions were massively rescheduled or canceled around the world. FIFA’s financial reserves currently amount to 2.74 billion US dollars; several hundred million are planned to be allocated from this money for the new fund.