FIFA Estimates Coronavirus Will Cost Football $11 Billion

Forum 3 years ago

FIFA Estimates Coronavirus Will Cost Football $11 Billion

FIFA on Wednesday put the cost of Covid-19 on football around the world at $11 billion in lost revenue.

The pandemic has already led to over 150 football associations to seek financial help from the $1.5 billion emergency relief fund set up by football’s governing body.

Olli Rehn, chairman of FIFA’s coronavirus steering committee, laid bare for the first time the true financial impact the virus has had 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,” Rehn, a Finnish politician and governor of the Bank of Finland, told a press conference.

“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,” Rehn, who is also independent deputy chairman of the FIFA Governance Committee, said.