FIFA offer cash bailout for Vietnamese football
duonghanhnguyen 11-08-2020, 07:57
FIFA offer cash bailout for Vietnamese football
FIFA will pay US$1.5 million to support Vietnamese football. — Photo

HÀ NỘI — Football’s governing body will pay a US$1.5 million bailout package to each of its national football federations in Southeast Asia (SEA).

The cash-offer from FIFA will include a payment to Viet Nam, in order to offset losses caused by the coronavirus pandemic.

Part of the package, worth $500,000, will be used to develop women’s football.

Le Hoai Anh, general secretary of the Viet Nam Football Federation (VFF) said the money is necessary for the member associations.

Due to COVID-19 pandemic, football games were suspended causing a deficit in revenue related to television rights, ticket sales, and sponsorship deals.

FIFA’s support will help countries maintain operations and continue to invest in targeted projects.

Around $500,000 will be given out in early September and more at the beginning of 2021.

From 2001, VFF has been granted US$200,000 a year by FIFA to support member unions in developing countries.

Part of this grant was used to build its headquarters in 2001, build a training ground at the Viet Nam Youth Football Training Centre and invest in youth football.

This annual payment is not related to the latest disbursement of funds FIFA will allocate. — VNS