Get all your news in one place.
100's of premium titles.
One app.
Start reading
Daily Record
Daily Record
Sport
Gabriel McKay

UEFA offer SPFL financial lifeline as governing body releases £60million in emergency funding

UEFA have released €70million (£61million) of payments early to help clubs struggling with the coronavirus crisis.

Football across the continent has been shut down due to the pandemic, and the governing body held a series of meeting this week.

On Wednesday there was a video summit with the European Club Association and European Leagues.

That led to an agreement on the early release of funds due to clubs who have sent players for international duty.

A total of €50m will go to clubs having released players for the 39 national teams not involved in the Euro 2020 play-offs.

A further €17.7m will go to clubs having released players for the 16 national teams taking part in the European Qualifiers play-offs, which includes Scotland.

A further €2.7m will be available for clubs after the play-offs are completed, which could once again benefit Premiership clubs.

(UEFA via Getty Images)

President Alexander Ceferin said: "European clubs are an integral part of the success of our national team competitions.

"As a result, a share of our national team competition revenues is distributed to the clubs which release players for those matches.

"In these difficult times when many clubs are facing financial issues, especially with their cash flow, it was our duty to make sure that clubs receive these payments as quickly as possible."

Any club that sent players for international duty with a UEFA association will receive a share of the payments.

(AFP/Getty Images)

ECA chairman Andrea Agnelli commented: "This represents a much-needed liquidity injection into club finances and is a result of the ECA’s joint work with UEFA on safeguarding clubs at this time of existential threat.

"Whilst public health remains our primary concern, securing financial, legal and regulatory relief in advance of restarting football across Europe, once it is safe to do so, is of paramount importance to ECA and its members."

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.