Up to 100 European Football Clubs Eye UEFA Recovery Funds
- Clubs register initial demand for 2 billion euros in borrowing
- European clubs count cost of billions of euros in lost revenue
Photographer: Fabrice Coffrini/AFP/Getty Images
As many as 100 of Europe’s pandemic-hit soccer clubs are seeking to access a new multibillion-euro loan fund being set up by UEFA, according to people familiar with the matter.
The teams have indicated an initial demand for borrowing a combined 2 billion euros ($2.3 billion) from the fund being readied by the sport’s European governing body, as they seek to repair financial damage wrought by the Covid-19 crisis, the people said.