UEFA has allocated approximately EUR 70 million ahead of time to the club to account for their players’ participation in representative European Championship qualifiers.
UEFA wanted to help clubs deal with the financial problems caused by the pandemic COVID-19 outbreak.
The disbursement of these funds was expected to be after the additional qualifications were completed which were to be played in March but was postponed due to coronavirus spreading. Additional qualifications are expected to be completed in October, according to the new schedule, but UEFA has already agreed to move money into the club accounts.
Clubs whose players are part of 39 non-qualifying teams will receive EUR 55 million, clubs whose players are in the 16 additional qualifying teams will receive an additional EUR 17.7 million, and an additional EUR 2.7 million will be allocated after the qualification phase is completed.
A lot of clubs face financial difficulties in these challenging times, especially with liquidity.
It was our responsibility to ensure that these clubs were paid out as soon as possible, “UEFA President Alexander Cheferin said for the UEFA site. European Clubs Association (ECA) President Andrea Agnelli welcomed the reaction of European Football’s umbrella organization.
This represents a much-needed liquidity boost for club finances and is the product of ECA and UEFA’s joint work to defend clubs from an existential hazard.