FIFA and the global soccer players' union FIFPro have launched a new fund on Tuesday to protect professional players' salaries and provide financial assistance to those who have not been paid by their clubs
MOSCOW (Pakistan Point News / Sputnik - 11th February, 2020) FIFA and the global soccer players' union FIFPro have launched a new fund on Tuesday to protect professional players' salaries and provide financial assistance to those who have not been paid by their clubs.
"This agreement and our commitment to helping players in a difficult situation show how we interpret our role as world football's governing body. We are also here to reach out to those in need, especially within the football community, and that starts with the players, who are the key figures in our game," FIFA President Gianni Infantino said in the statement.
The FIFA Fund for Football Players will launch in July and has $16 million of funding allocated over the next three years to provide support to players who have not been, and cannot be, paid by their clubs. This includes players of clubs that have gone bankrupt, or those belonging to clubs that have withheld wages.
According to FIFPro President Philippe Piat, 50 soccer clubs in 20 countries have stopped operating during the past five years, bringing financial uncertainty and hardship to hundreds of players.
The fund will not cover players' full salaries, but will aim to provide financial support when clubs fail to pay their players, the release stated.
In one of the most high-profile cases, third tier English club Bury were expelled from League One after a takeover bid collapsed last summer. According to HM Revenue and Customs in June, the club had over $10 million in debts.