FIFA to use ‘Football Marshall Plan’ as financial remedy for coronavirus crisis: Report

FIFA is in the midst of putting together a 'Football Marshall Plan' in order to deal with the financial fall-out of the effects of coronavirus in football. The 'Football Marshall Plan' could be put together with the aid of the FIFA financial report which could deploy some of its $2.7 billion in reserve funds to help mitigate the impact of the coronavirus outbreak. With coronavirus in football causing the halt of top leagues across the globe, FIFA has the option of the 'Football Marshall Plan' to bail out clubs that are struggling.

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What is the Football Marshall Plan by FIFA? FIFA Financial report

According to reports, FIFA understands that football clubs all across the globe are struggling due to the unprecedented coronavirus crisis. With the lack of funds due to the loss of matchday, television as well as sponsorship revenues, some clubs are already on the brink of collapse. Football players with coronavirus are also in self-isolation. However, in this crisis, the world football governing body FIFA has taken the decision to help those in need. FIFA is still weighing the creation of a million-dollar fund, termed 'The Marshall Plan’ which is likely to affect the FIFA financial report even though FIFA is in a strong financial situation to help clubs in their hour of need.

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Coronavirus in football triggers 'Football Marshall Plan'

The 'Football Marshall Plan' will allow FIFA to dip into the $2.7 billion in reserve funds to provide financial aid to clubs that are struggling. This cash boost will permit clubs affected by coronavirus in football to pay off their staff members as well as players at the club. Clubs in Serie A, as well as LaLiga, have agreed on pay cuts for the players in order to redistribute income to those affected by the coronavirus pandemic.

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