ECA endorses European Parliament Resolution
Categories:ECA Media Release
ECA Media Release
Over the past year, ECA has tirelessly explored and pursued ways of bringing urgent financial stability to European football – for clubs of all tiers in Europe. The impact of the COVID pandemic on club finances cannot be overstated. Professional club losses since the pandemic hit are in their multi-billions, on top of other sustainability challenges. This new reality has demanded urgent and considered action, particularly around the availability of short term liquidity for European clubs of all shapes and sizes to restructure their debt.
In this context, ECA welcomes UEFA’s announcement of the appointment of Citi – as the sole global coordinator bank – to set up the European club football financing programme. Upon ECA’s request and in consultation with ECA, this financing programme is vital to ensure that financial stability and economic sustainability returns to all levels of the European football pyramid. ECA will continue to work hand in hand with UEFA and Citi to develop this much-needed finance programme, ensuring European football clubs have the short and long term financial support needed so the future of football is sustainable – for the benefit of all.