CBF to offer credit to clubs in crisis due to pandemic

The Brazilian Football Confederation (CBF) announced this Monday a credit line for a total of 100 million reais (about $ 20 million) for the clubs they face financial difficulties because of the pandemic of COVID-19.

The governing body of Brazilian soccer explained in a release that the clubs of the first division may request the loans immediately and they will have favorable conditions to pay them, among which zero interest rate. “The resources will be granted taking into account as a guarantee the values ​​that the clubs will receive for broadcasting rights of competitions that they dispute and for the awards for performance in the same championships, “the entity said in the statement.

The CBF also said that, as help form, will also anticipate the payment of 15 million reais (some $ 3 million) to which the second division clubs this year for the television broadcasting rights of their parties.

The agency explained that the credits are a way to compensate part of the loss in the collectionn that the clubs suffered due to the provisional suspension of the regional championships between April and June, both for broadcasting and box office rights, contributions from members and sponsorships.

The regional championships were suspended in March as one of the social distancing measures of the authorities to stop the advance of COVID-19 in Brazil, a country that is already the second in the world in number of infections, with 707,412 cases, and the third in deaths, with 37,134 victims. The suspension ended up affecting also the Copa do Brasil, started in March, and the Brazilian Championship, whose first day was scheduled for May.

Despite the fact that regional governments have already begun processes to make distancing measures more flexible, until now no date for the resumption of any of the championships.

“The CBF knows that the clubs are the basis of all the soccer industry and they have suffered great impacts with the suspension of the competitions caused by COVID-19, “said the President of the Confederation, Rogerio Caboclo, quoted in the statement. For this reason, he added,” we are looking for all the ways to support the clubs at this difficult time. It is not enough that the competitions come back, we need the clubs to have ability to return competently. “

The entity recalled that it had already anticipated second division clubs 11.4 million reais (some $ 2.28 million) for your television broadcasting rights. He also remembered that in april distributed “by way of donation” 19 million reais (about $ 3.8 million) between the clubs that dispute the Brazilian Championship of the third and the fourth division and among those who contest the first and second of the Brazilian Women's Championship. Such measure benefited 140 clubs, among the most affected by the stoppage of the championships.

He also said that he also distributed thoroughly lost 3.2 million reais (about $ 640,000) between the regional federations and another 1.8 million reais (about $ 360,000) among the arbitrators in advance of the payment fees.

Likewise, as a relief measure, the CBF exempted clubs from all divisions indefinitely from the payment of fees for registration and transfer of soccer players, which, according to their accounts, allowed them to save about 4 million reais ( about $ 800,000).

“Added credit lines, advances, donations and exemptions, the CBF support The Brazilian soccer community has already reached around 155 million reais (about $ 31 million) “, affirmed the organism. Caboclo affirmed that the CBF makes efforts to be able to carry out the competitions planned for this year and that,” with union and responsibility, we will overcome this crisis and our football will emerge even stronger from it. I am convinced that the competitions will be concluded with absolute success. “