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UEFA paralyzes the 6,000 million rescue plan for European football

Problems in the rector of the beautiful sport on the articulation of the fund and its distribution among the clubs.

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UEFA paralyzes the 6,000 million rescue plan for European football

Problems in the rector of the beautiful sport on the articulation of the fund and its distribution among the clubs. The objective was to allocate this financing to mitigate the impact of Covid.

UEFA has put plans on hold for a multimillion-dollar bailout fund it was preparing to help European football recover from the impact of the pandemic, people familiar with the matter told Bloomberg.

That package in which the rector of European football has worked during the last year was endowed with 6,000 million euros, with a financing plan backed by Citi. The objective was to allocate it to alleviate the effects of the pandemic due to the closure of the stadiums and the drop in income, both broadcast and commercial.

But problems working out the details of how the fund would be located within UEFA and how the money would be distributed to clubs have stalled discussions, the people said. UEFA wants to avoid conflicts that could arise from both oversight of teams and the possible handing over of money, the people said.

Talks may resume at a later date, Bloomberg continues, and the fund could still go ahead. The agency is evaluating alternative options, including a joint venture with another agency or an independent entity to manage the funds.


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