Mostbet: The UEFA Executive Committee has read the latest information on the European soccer recovery plan, which involves using revenue from European Cup tournaments as a financial tool to provide clubs with access to liquidity in the coming years. The funding program does not imply any exchange activity for UEFA’s club tournaments.
UEFA, at the request of the Association of European Clubs, has investigated possibilities to partially solve the problem of falling revenues due to COVID-19 and to provide clubs with sustainable and long-term financial solutions. The planned initial amount of aid will be 2 billion euros, but the program is expected to be expanded over time.
To this end, UEFA has appointed Citi as the sole global coordinating bank for the program. Together with Citi, UEFA is developing an innovative financial solution that should be the first of its kind in Europe. If approved, it could be available for implementation as early as spring 2022.
The objective of the funding program is to structurally improve the financial stability of European soccer clubs through the efficient use of revenues from UEFA club tournaments. The program will not affect solidarity payments to clubs.
The program intends to help clubs in Europe’s top divisions to achieve certain eligibility criteria. These include financial and sporting parameters, as well as compliance with the financial “fair play” rules.
The program will provide needy clubs with a stable source of financing with a preferential rate for the long term and thus lay the foundation for soccer financing in the future.
Clubs will initially be offered the possibility of restructuring current debts to defer payment periods, as well as relying on current receivables, which will have a favorable effect on the selling clubs and buying clubs.
The financial program will be conducted in parallel with the introduction of stricter financial “fair play” rules for clubs, which is currently being discussed with all parties involved. The ultimate goal of this process is the financial stability of the entire European soccer ecosystem.