News24
17 Sep 2020, 01:42 GMT+10
FIFA on Wednesday put the cost of Covid-19 on football around the world at $11 billion in lost revenue.
The pandemic has already led to over 150 football associations to seek financial help from the $1.5 billion emergency relief fund set up by football's governing body.
Olli Rehn, chairman of FIFA's coronavirus steering committee, laid bare for the first time the true financial impact the virus has had on the game through fixture list chaos, empty stadiums and loss of TV rights revenue.
"It's a huge number and it covers the football economy in its entirety, including all youth academies," Rehn, a Finnish politician and governor of the Bank of Finland, told a press conference.
"This will impact next year as well, there is a carry over.
"That is why this Covid-19 relief fund is not time-bound - they may request loans later on if they need to," Rehn, who is also independent deputy chairman of the FIFA Governance Committee, said.
He said that while Europe was hit hardest in terms of absolute cost, it was the associations outside Europe which "have suffered more".
"In particular in South America, many on account of their relative means and the spring to autumn season," he said.
Last month European Club Association chairman Andrea Agnelli predicted lost revenue of four billion euros over two years for its member clubs.
Each national association can request a FIFA grant of $1million ($2mn for confederations) plus $500,000 for women's football.
Loans are available to national associations up to a maximum value of $5mn ($4mn for confederations).
Rehn was at pains to stress that unlike in the past it was imperative the money made available by FIFA "is being used for the right purposes".
"Corruption has no room in football," he stated.
"Good governance is at the heart of this Covid-19 relief fund," he said.
"We have made this clear to member associations. I know some member associations have complained about heavy compliance procedures - I'm quite used to that. We do require full compliance and we have been working with globally-known auditing companies.
He gave some examples of how the relief fund is already being put into use, like in Thailand, where it has helped restart the national league competition, including coronavirus testing, but also to implement video assistant referee (VAR) technology.
Mexico spent its entire $1.5mn grant on its national women's league, and in Brazil the funds are supporting the testing programme in the women's competition.
And in Uruguay, the money has helped the federation re-hire staff it had been forced to lay off, who were crucial to its effective operation.
Get a daily dose of Iraq Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Iraq Sun.
More InformationCONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
New Delhi [India], July 13 (ANI): Madhya Pradesh Chief Minister Mohan Yadav said on Sunday that he would pitch his state to foreign...
Ras Al Khair [Saudi Arabia], July 13 (ANI): Union Minister of Health and Chemicals and Fertilisers JP Nadda visited Ma'aden's phosphate...
Geneva [Switzerland], July 13 (ANI): A recent report by the United Nations' World Meteorological Organisation (WMO) has revealed that...
Bhopal (Madhya Pradesh) [India], July 13 (ANI): Madhya Pradesh Chief Minister Mohan Yadav is scheduled to go on an official visit to...