x

COVID-19 pandemic to cost football N5.4trn this year — FIFA

The COVID-19 pandemic is likely to cost club football 14 billion dollars (about N5.4 trillion) this year worldwide, a leading official at global football body FIFA said on Wednesday.

Olli Rehn, who heads the FIFA committee set up to tackle the effects of the pandemic, said the cost is around one third of its value.

He added that FIFA, along with financial consultants, had estimated the club game to be worth between 40 billion dollars and 45 billion dollars worldwide.

Rehn said the figure of 14 billion dollars was based on the current scenario, where football is slowly restarting after a three-month hiatus earlier this year.

But the FIFA official stated that it would be a “different ball game” if the pandemic did not let up.

“Football has been hit very hard by the coronavirus pandemic,” Rehn, a former EU commissioner and now governor of the Bank of Finland, said.

“It has created plenty of turmoil at different levels with some professional clubs facing very serious difficulties.

“I’m also very concerned about youth academies and lower division clubs.”

Rehn said that football in South America had been especially hard hit, while Africa and Asia were also a concern.

“It is a real danger that the good work that has been done developing football in Asia and Africa could be ruined. So, we want to soften the blow and maintain the development that has been done,” he said.

FIFA has allocated 1.5 billion dollars to help tackle the effects of the pandemic and Rehn said 150 of the 211 member-associations had so far applied for funds.

He said that, while football was slowly re-awakening, another downturn could not be ruled out.

“The critical thing will be whether a vaccine will be developed and can be used, and that we have medical and other means to fully contain and tame the pandemic, and that is uncertain,” Rehn said.

“We cannot rule out worse developments and that would be another ball game if the pandemic were to continue in a severe form next year. Now we are working on the basis of the current scenario.”

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

NAFDAC Issues Health Warning Over Certain Dove Soap, Deodorant Products

The National Agency for Food and Drug Administration and...

Eid Adha: DG NOA Calls For Tolerance Among Nigerians

By Joyce Remi-Babayeju The Director General of the National Orientation...

El-Rufai Not Liable in ₦900m Court Ruling — Legal Team Clarifies

The legal team of former Kaduna State Governor, Mallam...

Enehe Urges Muslims to Embrace Righteous Living

By Noah Ocheni, Lokoja The Chairman of Kogi State Internal...

Senator Joel-Onowakpo Lauds President Tinubu’s Strategic Efforts on Security

Senator Joel-Onowakpo Lauds President Tinubu's Strategic Efforts on Security By...

Mokwa Flood: FG Reassures Safety, uninterrupted vehicular Movement On Bridge

By Joyce Remi-Babayeju Following the Mokwa flood disaster which eroded...
spot_img

Related Articles

Popular Categories

spot_imgspot_img