Homburger advised FIFA on the set-up of the FIFA COVID-19 Relief Plan
On June 25, 2020, FIFA announced that its Council unanimously approved the FIFA COVID 19 Relief Plan, which was designed by the FIFA administration in close cooperation with repre-sentatives of the confederations. Across its three stages, this global support plan will make available up to USD 1.5 bn to assist the football community in its efforts to sustain football activities through the times of the pandemic. In the first two stages of the plan, FIFA provided for the immediate release of all pre-agreed operational cost payments to member associations and, subsequently, for the opportunity to transform development grants into COVID-19 operational relief funds. In stage three, which was approved by the FIFA Council on June 25, 2020, further financial support will be provided through a system of grants and loans. A distinct governance structure has been set-up to ensure efficient implementation and effective oversight of the plan. Homburger has acted as legal counsel to FIFA in the set-up of stage 3 of its COVID-19 Relief Plan. The Homburger team advising FIFA in this matter was led by partner Daniel Hasler (Corporate / M&A) and included partners Jürg Frick (Financing and Investment Products), Reto Heuberger (Tax), Harold Grüninger (Private Clients), counsel Micha Fankhauser (Corporate / M&A), associates Mario Wälti (Corporate / M&A), Céline Martin (Tax) and David Borer (Financing and Investment Products) as well as junior associate Severin Egloff (Corporate / M&A).