Business Standard

UEFA gives $250M advance to European soccer bodies

Image

AP Paris
UEFA is paying 236.5 million euros ($255 million) in advance to its national federations and easing requirements on how they spend it during the pandemic.
UEFA says each of its 55 members is getting up to 4.3 million euros ($4.7 million) they are due in central funding through next season.
UEFA president Aleksander Ceferin says the money can be used as our members see fit to rebuild the football community.
Ceferin says this is a responsible decision to help as much as we can.
European officials are usually required to spend certain amounts in areas such as youth and women's soccer, referee training, and operating costs. They are not subject to mandatory UEFA audits.
UEFA's funding program, called Hat-Trick, is worth twice as much to European federations as they get from FIFA.
The program is worth more than 11 million euros ($12 million) in the current 4-year cycle compared to $6 million in basic funding from FIFA for 2019-22.

Disclaimer: No Business Standard Journalist was involved in creation of this content

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 28 2020 | 9:20 AM IST

Explore News