Swiss Ice Hockey

The Federal Council announced in today's press conference that they will make new loans available to sports teams.

New loans available to teams.
Robert Hradil / RvS.Media

The first tranche will be CHF 175 million and is supposed to compensate for the shortfalls from June 1 for the next six months. 75 million of that sum is intended for the hockey leagues. They will have to pay back the loan in five years.

The second tranche of CHF 175 million will be made available if operations are limited for the next twelve months. Repayment for that loan must be made within ten years.

However, there are conditions for the loan, as the Luzerner Zeitung reports: the leagues have to create a solidarity-based fund for future risks, the money cannot be used to pay for above-average salaries of players and the development of young players has to be continued at least in the same fashion.

They have also signed the professional leagues to a "Memorandum of Understanding" to prevent malpractice. The clubs which decide to make use of a loan are obliged to reduce their payroll by 20 % in the next three years.

( 13 May 2020 | mso* )

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