Left Menu
Development News Edition

Soccer-CONMEBOL offers financial help to top South American clubs

Reuters | Updated: 26-03-2020 22:16 IST | Created: 26-03-2020 22:16 IST
Soccer-CONMEBOL offers financial help to top South American clubs

Clubs playing in the Copa Libertadores and Copa Sudamericana have been offered an advance of up to 60% of their prize money so they can stay solvent during the coronavirus crisis, the South American Football Confederation (CONMEBOL) said on Thursday. A total of 76 clubs are still active in the two competitions, which are South America’s equivalent of the Champions League and Europa League.

All receive money for qualifying and the sum increases the further they progress. Some have already furloughed employees and many players are training at home while in self-isolation.

"Situations like this demand quick and exceptional responses," CONMEBOL president Alejandro Dominguez said in a statement. "With this advance, CONMEBOL will allow the clubs guarantees to meet their financial obligations with collaborators, backroom staff, players and contractors."

South American football has ground to a halt over the last few weeks as the coronavirus pandemic hits the continent. The finals of the two main competitions are due to be held in November.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.


TRENDING

OPINION / BLOG / INTERVIEW

Energy markets post-COVID 19: Recovery may take time, transition to continue

As oil markets have crashed, the experts believe the oil prices will come down drastically and continue making the energy transition a financial burden for many economies for a couple of years.  However, the market alone was never...

'Diya jalao' for COVID 19: Modi needs to practice his teachings and control fake news on social media

In his video message to the nation on Friday the Prime Minister talks about peoples collective power to win the invincible. However, he has made no concreate efforts to win over the confidence and represent the collective power of the polit...

Tourism post-COVID 19: Lessons learned, out-of-box strategies to ensure the revival

In the pre-COVID 19 period the tourism industry was seen with much hope throughout the world. However, the COVID 19 pandemic has completely paralysed the tourism industry and its dependent sectors. The tourism industry in the post-COVID 19 ...

Cybersecurity post-COVID 19: More internet means more threats, stay alert folks!

When supported by adequate digital awareness campaigns and more crackdowns on cybercrimes, increased internet usage will help more people embrace technology and better understand the risks, bringing us closer to unleashing the true potentia...

Videos

Latest News

Hope Centre takes care of concerns of engineers, power grids: Priyanka Gandhi

Congress leader Priyanka Gandhi Vadra on Saturday said the concerns of power grids and engineers too are being taken care of by the Central government in view of Prime Minister Narendra Modis appeal to switch off lights for nine minutes fro...

Officers who came in contact with Bhopal Health Dept Director being quarantined: Bhopal DC

All those people who came in contact with COVID-19 positive J Vijay Kumar, the Director of Bhopal Health Department, are being quarantined, Bhopal District Collector DC Tarun Kumar Pithode said on Saturday. A list of officers who came in co...

Soccer-Ex-Man Utd striker Berbatov says Liverpool fully deserve title

Former Manchester United striker Dimitar Berbatov said their traditional foes Liverpool deserves to be crowned Premier League champions and it would be unfair on the Anfield side if the season cannot be completed due to the coronavirus outb...

Apollo Clinics launches Fever Clinics

Hyderabad, Apr 4 PTI Apollo Clinics, a division of Apollo Health and Lifestyle Limited, announced the launch of specialised Fever Clinics to address public concerns about fever and related symptoms in the wake of the ongoing COVID-19 pandem...

Give Feedback