$22 Million: Act of Solidarity in Soccer from Champions League Participants
Giving up their share of the national media revenue … this is a great example of thinking Big Picture and being a leader.
In a show of solidarity, the German Champions League participants from Dortmund, Munich, Leipzig and Leverkusen have made a pledge of €20 million. The aim of the initiative is to offer financial support to clubs in the Bundesliga and Bundesliga 2 who are struggling due to the corona crisis.
“We have always said that we would show solidarity if clubs, through no fault of their own, should run into difficulties that they can no longer overcome themselves,” said BVB’s chief executive officer Hans-Joachim Watzke, who added: “BVB is currently having a major impact on society through a wide range of initiatives. And naturally, we are prepared to help out other professional football clubs if it is ultimately a matter of cushioning the financial effects of the pandemic.”
“This initiative shows that solidarity is more than just lip service in the Bundesliga and Bundesliga 2. The DFL Executive Committee is very thankful to the four Champions League participants for their gesture towards our community of clubs,” said DFL Executive Committee spokesman Christian Seifert.
The four clubs will initially forego their share of the national media revenue – which has not yet been distributed – from the DFL next season. This amount, which stands at approximately €12.5 million if the current distribution model is applied, will be supplemented by an additional €7.5 million from the quartet’s own reserves.
The distribution criteria for the €20 million is to be decided by the DFL Executive Committee.
Source: Press Release