The coronavirus episode, which was recognized in China, has contaminated individuals in 185 nations. Its spread has cleared out businesses around the world checking the costs. The outburst has not only to slow down the economy but has left its prints on many football clubs by making them financially unstable.
UEFA has released almost 70 million euros to the club ahead of schedule, to compensate for the participation of their players in representative qualifiers for the European Championships.
UEFA has determined to help clubs cope with the monetary crisis brought about by way of the COVID-19 disease pandemic.
The disbursement of this money used to be supposed to be after the completion of the additional qualifications, which have been to be played in March however was delayed due to the unfold of coronavirus. According to the new plan, additional qualifications are due to be carried out in October; however, UEFA has already decided to transfer money to the club accounts.
Fifty million euros will be awarded to clubs whose players are in the phase of 39 non-qualifying teams, an extra € 17.7 million will be allotted to clubs whose players are in the sixteen extra qualifying teams, and some other 2.7 million will be dispensed upon completion of the qualification process.
In these challenging times, many clubs are dealing with economic difficulties, specifically with liquidity. It was our duty to make certain that these clubs have been paid out as soon as possible,” said UEFA President Alexander Cheferin for the UEFA site.
President of the European Clubs Association (ECA) Andrea Agnelli praised the reaction of the umbrella company of European football.
This represents a much-needed injection of liquidity for membership finances and is the result of the joint work of ECA and UEFA to defend clubs from an existential threat.