• Loading stock data...
Friday, March 29, 2024
2024 Best Venues nominations are open now through April 8! Submit Now

UEFA Pumps Brakes on $6.3B Rescue Fund

UEFA
UEFA

UEFA has been working on a $6.3 billion rescue fund for the past year to assist European soccer clubs in recovering from pandemic-related financial woes, but has reportedly paused the plans.

Problems have surfaced over details about how the fund would sit within UEFA and be distributed to clubs. It was set to include an emergency funding facility, a separate amount for future crises, and new rules regarding financial fair play.

Citigroup was hired to arrange the package, but will only get its full fee if the fund is a success.

While the fund could materialize in the future, UEFA is reportedly looking at other options including a separate board or a joint venture with another governing body. 

Financial Funnel

No matter the option UEFA ends up choosing, it’s clear that most European clubs need the assistance.

  • Deloitte reported that the European soccer market contracted (13%) for the first time since the global financial crisis in 2008/09.
  • The same report found that the “big five” European leagues saw revenue decline 11% in 2019/20 to around $16.4 billion from $18.6 billion the season prior.

Previous reports said clubs would be able to restructure existing debt and have access to funds at lower borrowing rates as part of the package.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The NFLPA Report Card Is Doing Exactly What It Was Intended For

Robert Kraft hasn’t gone to school in nearly 60 years, but on Tuesday the Patriots’ owner found himself talking about his report card. 

How Lack of Planning by NCAA, Gonzaga Led to Racial Abuse of Utah Athletes

The NCAA gave Gonzaga a waiver to place teams in an extremist hotbed.

NCAA President Calls for Nationwide Ban on College Prop Bets

The NCAA president is reacting to the recent betting turmoil in sports.

It Remains Unclear Which Authorities Shohei Ohtani Has Reported Theft of Millions to, If Any

A federal investigation is ongoing, but it’s not clear what it covers.
podcast thumbnail mobile
Front Office Sports Today

Why the Timberwolves Sale was Called Off

0:00
0:00

Featured Today

March 22, 2024, Brooklyn, NY, USA; Northwestern Wildcats guard Brooks Barnhizer (13) and Northwestern Wildcats guard Boo Buie (0) react in overtime against the Florida Atlantic Owls in the first round of the 2024 NCAA Tournament at the Barclays Center.
March 27, 2024

‘An Expensive Game’: March Madness and NIL Collectives Are Intertwined

At schools nationwide, collectives are fueling NCAA tournament runs and vice versa.
Iowa’s Caitlin Clark (22) waits to be announced in the starting lineup against West Virginia in a NCAA Tournament round of 32 game Monday, March 25, 2024 at Carver-Hawkeye Arena in Iowa City, Iowa.
March 26, 2024

The Women’s Trading Card Market Is Overlooked. Can Caitlin Clark Change That?

Traditionally, women’s sports cards have been a marginal part of collectibles.
The Sports Illustrated cover signed by Derek Jeter and Alex Rodriguez, February 27, 2019, at Don & Charlie's, 7501 E. Camelback Road, Scottsdale. Don Charlie S
March 24, 2024

Everything You Need to Know About the Ongoing ‘Sports Illustrated’ Saga

Understanding the strange state of affairs for the nearly 70-year-old publication.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
Spotify
Multiple - USA Careers

Orioles’ Rubenstein Era at Last Begins, and With Ripken Back in the Fold 

The billionaire private equity executive receives unanimous approval of his purchase of the MLB club.
March 25, 2024

NFL Succession Highlights Team Transfers From Aging Parents

The NFL is set to approve succession plans for the Texans and 49ers.
March 26, 2024

49ers Player Politely Declines to Return $75,000 Team Accidentally Paid

An accounting error has impacted the 49ers in two future NFL drafts.
Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

The remarkable growth of the #1 Discord sports server in the world.
March 24, 2024

Peter Angelos Leaves ‘Indelible Mark’ on Baseball, Baltimore

The longtime Orioles owner boasts an extensive legacy impacting the team and city.
March 22, 2024

D.C. Attorney General: Caps and Wizards Can’t Leave Until 2047

Bond debt in a 2007 contract is the main reason the move can’t happen.
March 21, 2024

Phillies Join in $2.5 Billion Redevelopment Plan for Philadelphia Sports Complex

The club is now involved in the remaking of the stadium area.
March 20, 2024

Disgraced Ex-Spanish Soccer Chief Raided by Cops in Corruption Probe

Police are investigating the Super Cup’s move to Saudi Arabia.