UEFA set to release a £6bn rescue package to save football from the effects of the pandemic

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The coronavirus pandemic has wrought financial havoc across European football, with no clubs spared the effects of not having crowds at stadiums for the best part of 18 months.

In order to turn things around, UEFA have put together a £6bn rescue package which should help all clubs to get back on their feet again as football returns to normal.

Bloomberg note that a three-pronged strategy is being devised which will essentially see another revenue stream for clubs that also lost out on significant broadcast revenue.

The funding facility being proposed is for between £1.7billion to £5.1billion.

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There is also an emergency pot that can be used if necessary, as well as the new Financial Fair Play rules coming in, which should level the playing field considerably.

Aleksander Ceferin will authorise a multi-billion pound rescue package

Club debt will be allowed to be restructured over a five to seven year period, whilst funds can be accessed at lower borrowing rates than normal.

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