UEFA is putting together a rescue package for clubs across Europe to help them achieve financial stability following the effects of the pandemic.
According to sources, the financial package is being valued at €6 billion and will be a three-part strategy. For all sorts of clubs, there will be an emergency pot that allows the clubs to have access to extra funds if necessary.
In addition, all club debt will also be restructured and UEFA’s new plans will allow them to take loans at a reduced interest rate than normal. UEFA President Aleksander Ceferin is expected to announce the new plan at the September conference of the governing body for European football.
Football has taken a massive hit on the financial front, with clubs reporting losses of several hundred million Euros with every passing matchday. The broadcast revenue system has also dipped which puts big clubs like Inter Milan, Real Madrid, Barcelona and Juventus at financial risk as well.
Centricus Asset Management, a London based firm, is in talks with UEFA to help them out on the financial front. The investment will seemingly help clubs out in the long run.
Due to their financial problems, the idea of a European Super League was also in the works but was scrapped after clubs pulled out due to mass protests. Most recently, La Liga was in talks with CVC Capital Partners for a 50-year investment. However, the Spanish Football Federation ruled the deal as completely illegal on the league’s part.