Coronavirus Economic Impact on UEFA Clubs
Coronavirus has brought a lot of economic challenges not only to football clubs but world economies also. All major football leagues have been postponed around the world, companies, as well as schools, have been closed to try and contain the deadly virus.
Well seems like there will be no football until the world contains this virus, in the meantime try to find other interesting things like playing real money real money casino games. You could also try finding recorded football matches online. UEFA’s decision to postpone the Euro 2020 to 2021 will cost them 300 million Euros. Most of the money that is generated from the tournament goes back to the clubs. This means clubs will have to wait until 2021 to get the money that they were supposed to get this year.
The money is channeled to clubs in the form of prize money for Europa and Champion’s League. The biggest challenge that UEFA now has is to ease the economic impact of coronavirus on its clubs.
In response to the current coronavirus outbreak, UEFA has started evaluating the possibility of temporarily lifting the Financial Fair Play (FFP) rules on clubs. Due to the suspension of all football activities expect best nz online casinos in Europe, clubs are financially strained hence they requested the suspension of FFP rules to ease the burden on clubs.
Clubs are suggesting pay cuts on salaries that are being given to players. Football Leagues in Italy and France have already proposed this move as a way to loosen the financial impact of coronavirus on clubs.
FFP was launched in 2011. All teams and players were required to clear debts with other clubs and players, also to make sure that they have no tax arrears in their countries. Failure to prove these clubs would not be allowed to participate in the Champion’s League and the Europa League. basically clubs are not supposed to spend more than they can afford.