GENEVA, April 23 — Uefa has released nearly €70 million (US$75 million) of compensation payments to clubs ahead of schedule to help deal with the impact of football’s Covid-19 related stoppage. European football’s governing body pays clubs who have contributed players to national teams...
Uefa has released nearly €70 million of compensation payments to clubs ahead of schedule to help deal with the impact of football’s Covid-19 related stoppage. — Reuters pic
GENEVA, April 23 — Uefa has released nearly €70 million of compensation payments to clubs ahead of schedule to help deal with the impact of football’s Covid-19 related stoppage. European football’s governing body pays clubs who have contributed players to national teams during the qualification process for the European Championships.These were originally scheduled for March, but were postponed due to the spread of the virus, but the governing body has moved to ensure the cash is sent to clubs.
€50 million will go to clubs who released players for the 39 national teams not involved in the playoffs with €17.7 million going to those clubs who provided players during the group phase to the 16 teams who have made the playoffs.“In these difficult times when many clubs are facing financial issues, especially with their cash flow, it was our duty to make sure that clubs receive these payments as quickly as possible,” said Uefa president Aleksander Ceferin.
Andrea Agnelli, chairman of the European Club Association said: “This represents a much-needed liquidity injection into club finances and is a result of ECA’s joint work with Uefa on safeguarding clubs at this time of existential threat.” — Reuters
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