Coronavirus Outbreak: Four Bundesliga teams create 21 million dollars fund for clubs in crisis

Germany’s Bundesliga and second division are set to resume in April but the organising body’s executive committee has recommended the season be suspended until at least 30 April, which will impact revenues of clubs

Reuters March 26, 2020 18:53:32 IST
Coronavirus Outbreak: Four Bundesliga teams create 21 million dollars fund for clubs in crisis

Borussia Dortmund, Bayern Munich, RB Leipzig and Bayer Leverkusen have come together to create a 20 million euros ($21.92 million) solidarity fund to help German clubs in the top two tiers stave off a potential financial crisis during the coronavirus pandemic.

Germany’s Bundesliga and second division are set to resume in April but the organising body’s (DFL) executive committee has recommended the season be suspended until at least 30 April, which will further impact revenues of clubs across the country.

Dortmund said the four clubs, who participated in the Champions League this season, will forego their share of the national media revenue — approximately 12.5 million euros — while adding an additional 7.5 million euros of their own.

“We are prepared to help out other professional football clubs if it is ultimately a matter of cushioning the financial effects of the pandemic,” Dortmund CEO Hans-Joachim Watzke said in a statement.

Dortmund are no strangers to an economic crisis, with the club nearly going bust in 2005 before Bayern came to their rescue with an interest-free loan so they could pay their players’ salaries.

The DFL Executive Committee will decide on the criteria for the distribution of the solidarity fund.

“The DFL Executive Committee is very thankful to the four Champions League participants for their gesture towards our community of clubs,” said Executive Committee spokesman Christian Seifert.

“This initiative shows that solidarity is more than just lip service in the Bundesliga and Bundesliga 2.”

Borussia Moenchengladbach’s players and coaching staff became the first in Germany to accept pay cuts during the coronavirus crisis earlier this month while players at Union Berlin have also agreed to go without their wages.

Click here to follow LIVE updates on coronavirus outbreak

Updated Date:

also read

Champions League: Bayern Munich's Robert Lewandowski out four weeks; to miss clashes against PSG
Sports

Champions League: Bayern Munich's Robert Lewandowski out four weeks; to miss clashes against PSG

Bayern host PSG in the last-eight first leg on 7 April, before visiting the Parc des Princes for the return game on 13 April.

A year since COVID-19 outbreak, Haitians await vaccines amid surging violence, political instability
World

A year since COVID-19 outbreak, Haitians await vaccines amid surging violence, political instability

Haiti’s lack of vaccines comes as it reports more than 12,700 cases and 250 deaths, numbers that experts believe are underreported. Perceptions also remain a big challenge. While face masks remain mandatory at Haiti businesses, airport closures and curfews have long since been lifted, and other precautions are rare.

Cuban cooks take to Facebook to share ingenious culinary creations in wake of food shortage due to COVID-19 pandemic
World

Cuban cooks take to Facebook to share ingenious culinary creations in wake of food shortage due to COVID-19 pandemic

A number of Cubans, with more ingenuity than resources, help their compatriots cope with shortages exacerbated by the new coronavirus pandemic with Facebook posts of culinary creations designed around what they’re actually likely to find at the market or with government rations.