LaLiga English

Spanish FA loan 500 million euros to struggling La Liga clubs

The Spanish Football Federation (RFEF) will launch a fund worth 500 million euros to help clubs struggling financially during coronavirus crisis.

The money will act as a loan to help clubs who lost the television money as La Liga currently suspended.

The clubs would be allowed to pay back over a period of five years.

In addition, the RFEF also pledged to loan 4 million euros to non-professional men’s and women’s teams.

“We want to sit down with La Liga to talk about the problems that some clubs might have,” said RFEF president Luis Rubiales.

“My message is one of union, hope, discipline. All of football, from the modest to the elite, we should send a message of solidarity, together we will stop this virus.”

The death toll in Spain from coronavirus has overtaken China, rising by 738 to 3,434 on Wednesday. That puts it second only to Italy globally.

Spanish FA has also converted national team’s hotel and staff, including psychologists and physiotherapists, to the country’s health service to fight against COVID-19.