Categories: Sports World News

Spanish Football Federation Offers Clubs Loans To Pay Bills

(File) View taken on on September 16, 2017 of the new Wanda Metropolitano stadium before the Spanish league football match Club Atletico de Madrid vs Malaga CF in Madrid.  AFP PHOTO / OSCAR DEL POZO.

 

Spanish Football Federation (RFEF) president Luis Rubiales on Wednesday announced lines of credit for lower-level clubs in difficulty because of the coronavirus pandemic and repeated that he hoped the season could be completed.

He also told an online press conference he was willing to talk to La Liga, which runs the top two divisions, about helping its clubs.

Rubiales said that semi-professional and non-professional clubs in men’s and women’s outdoor and indoor football “will have a line of credit that will reach up to four million euros ($4.3 million) depending on their wage bills”.

He said the loans would be interest free and could be repaid over two years.

Some clubs are considering introducing part-time working to compensate for lack of income.

Rubiales said he hoped that this aid would help prevent such drastic action.

“We’re talking about four million for modest levels of football, but there’s also professional football and we want to reach out to it,” said Rubiales.

“If La Liga wants to talk, it’s time to do the maths,” he said. “We have worked on a line of financing of 500 million euros.”

He said the RFEF was ready “to sit down and look for financing for clubs that are going to have a problem”.

READ ALSO: Fury-Wilder Rematch Postponed Over COVID-19

“(If the season) does not end on June 30, which is more probable, there are going to be clubs that do not receive 100 percent of the money from television,” he added.

He said he could make 500 million available “for first and second division clubs, who need 15, 20 million euros now”.

Rubiales reiterated that competition will resume “when it is possible”, but he said he wanted to “give clubs fighting relegation the chance to save themselves, and those in a position to win promotion the chance to earn it”.

AFP

Anthonia Orji

Disqus Comments Loading...
Share
Published by
Anthonia Orji
Tags: Clubs Loans Luis Rubiales RFEF Spanish Football

Recent Posts

  • Local

Anap Foundation Lists Critical Supplies Nigeria Needs To Fight COVID-19

  The Anap Foundation COVID-19 Think Tank has identified seven items Nigeria urgently needs from the outside world to help…

11 mins ago
  • In Pictures

PHOTOS: Zulum Briefs Buhari On Military Operations In Lake Chad

    Borno State Governor, Babagana Zulum, on Thursday visited President Muhammadu Buhari. The President received the governor at the…

1 hour ago
  • Coronavirus
  • Headlines

Nigeria Records 14 New COVID-19 Cases, Total Infections Now 288

  The Nigeria Centre for Disease Control (NCDC) has confirmed 14 new cases of coronavirus in the country. This brings…

2 hours ago
  • Crime Watch

Suspected Cultists Arrested For Killing OPC Member In Ogun

  Operatives of Ogun State police command have arrested two members of a deadly cult group who assassinated one Kolawole…

2 hours ago
  • In Pictures

PHOTOS: Our Servers Are Back, Says AGF After Inferno

    The Accountant General of the Federation, Idris Ahmed, has given an update on the fire that broke out…

2 hours ago
  • Coronavirus
  • Entertainment

Naira Marley To Make Free Audio-Visual In Campaign Against COVID-19

  Popular artiste, Afeez Fashola also known as Naira Marley has given an undertaking that he will join the Lagos…

2 hours ago