The FIFAthe entity that controls soccer around the world, has loaned the various public administrations of Switzerlandincluding municipalities and cantons, tens of millions of euros since 2018 in very favorable conditions compared to those on the market at the time, according to an investigation by Swiss public radio-television (RTS).
Among the borrowers are the municipal administrations of the cities of Geneva, Lausanne and Bern, as well as the canton of Neuchatel, which reportedly used the services of an online financial platform that directly connects entities seeking loans to lenders, the media reported today.
Among the first are public authorities or companies, while in the second group are banks, insurance companies, pension funds, private entities, and others.
According to information, through this the city of Lausanne received 40 million francs from the sports organization, Geneva, 150 million francs; and the canton of Neuchâtel, 100 million francs; although it is specified that these amounts actually represent only a portion of your short-term loans.
Other administrations that have received money borrowed from FIFA are the cities of Freiburg, Chaux-de-Fonds, Winterthur and Frauenfeld, according to RTS.
The funds that FIFA has are very important. Its income is the result of the sale of television rights (56% of the total, according to the latest official figures), as well as marketing rights, licenses, sponsorships and ticket sales, mainly.
According to the data communicated by the agency in November, its income in the 2019-2022 budget cycle is 7.2 billion dollars and it sees a big increase for the next one (2023-2026), for more than 10.3 billion euros.
Several representatives of entities requesting loans indicated to the press that the financial conditions offered by FIFA are very attractive, without interest or additional costs, while others indicated that they need Swiss financing franc and from entities subject to the jurisdiction of Switzerland, where FIFA has its headquarters.
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
