FIFA has massive plans to help soccer programs and athletes across the world. Officials close to the situation say the organization has hundreds of millions of dollars worth of relief money.
According to records, FIFA has a rainy day fund worth $2.74 billion. The massive amount of money is thanks to long term planning and having many different revenue streams.
The coronavirus pandemic changes things for several teams across the entire world. Many players will leave their teams to return to their home country’s team.
Many teams won’t be able to afford to pay some of these players’ massive salaries. Barcelona players are taking up to a 70% pay cut to help ease the strain on their team.
The fund will provide teams with bridging loans and emergency grants. The way the organization goes about distributing the money is a huge topic of discussion. Do they distribute the money evenly or give more to the teams that have very little money to spend on the roster?
The relief fund will be managed firmly by FIFA’s leadership to make sure there is no kind of foul play.
Four teams across Germany have agreed up to 20 million euros to help lower-tier teams battle the economic crisis caused by the coronavirus.
“FIFA is in a strong financial situation, and it’s our duty to do the utmost to help them in their hour of need,” FIFA said on Tuesday. “Therefore, we confirm FIFA is working on possibilities to provide assistance to the football community around the world after making a comprehensive assessment of the financial impact this pandemic will have on football.”
“We are all football executives responsible for the well-being and sustainability of the clubs we manage, which are faced with a real existential threat,” said Andrea Agnelli, President of Juventus, the 35-time Italian champion.
“As football is now at a standstill, so are our revenue flows on which we are dependent to pay our players, staff, and other operating costs. No one is immune, and timing is of the essence. Meeting our concerns will be the biggest challenge our game and industry has ever faced.”
Thinking Of Others
Barcelona FC players are taking up to a 70% pay cut, and donating their own money to help fight the pandemic.
Lionel Messi spoke out yesterday via an Instagram post saying, “We want to clarify that our desire has always been for a reduction to be applied to our salaries because we understand that this is an exceptional situation and we are the first that have ALWAYS helped the club with what they have asked of us.
“For that reason, it doesn’t cease to surprise us that from inside the club there would be people that want to put us under a magnifying glass or try to pressure us into something that we were always clear we wanted to do. In fact, if the agreement has dragged on, it’s because we were looking for a formula to help the club and its workers in these difficult times.
“For our part, the moment has arrived to announce that, aside from the 70% wage cut during the State of Emergency, we are going to also make contributions so that all the club’s employees can earn 100% of their salaries for as long as this situation lasts.”
