Football around the world to lose $14billion due to coronavirus pandemic, FIFA estimates

DAVID GOMBE

The Federation of International Football Association has estimated that football around the world will lose out on almost $14billion in revenue because of the deadly global coronavirus pandemic.

That figure accounts for about a third of the game’s global economic value with the club and national game worth about $46bn worldwide.

The pandemic has already led to more than 150 football associations seeking financial help from the $1.5bn emergency relief fund set up by football’s governing body.

Chairman of FIFA’s Coronavirus steering committee Olli Rehn confirmed the impact of the pandemic 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,”┬áhe said. “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.” Revealed Rehn who is also a Finnish Politician and governor of the bank of Finland.

Each national association can request a FIFA grant of $1m ($2m for confederations) plus $500,000 for women’s football.

Loans are available to national associations up to a maximum value of $5m, while confederations can apply for loans up to $4m.

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