Uganda Premier League clubs and FUFA are contemplating on the idea of seeking for loans from FIFA.
The idea was top of the agenda as FUFA and UPL Clubs owners met on Monday morning in the first Breakfast meeting at Imperial Hotel in Kampala.
FUFA ealier approved Sh526m to UPL Clubs, with each team set to receive Sh32m, as Covid19 relief fund from FIFA.
The UPL Clubs have openly said that the Sh32m (which they are yet to receive) is not enough and cannot cover all their problems.
FUFA Boss Moses Magogo told the UPL clubs more funds will come through in January as a second Covid19 relief installment but they can still seek for more funds in form of loans.
“There is an opportunity to borrow money by FUFA and also by FUFA for its members,” Magogo told UPL Club owners in his opening remarks.
“As FUFA, we are discussing how best this can be done and our discussion centres around Clubs with the ability to pay back this money once proven and these funds to be invested in football infrastructure.”
With a decision yet to be reached, Magogo encouraged community clubs to set up themselves in a better organised way and also told Private Institution Clubs that they will need a guarantee from their institutions because “there will be stringent rules above these funds to ensure that they are paid back.”
Busoga United FC chairperson Madam Hope Diana Nyago welcomed the idea because “clubs are struggling, players are at home and are not paid.”
“Every club has been finding own sources of funding. We are all going through some kind of economic recession, even where we were taping for some little money, all sectors of the economy are locked,” Nyago said.
“If this FIFA Covid19 relief grant cannot cover a big portion of our budget, then we would have to resort to borrowing.”
FIFA said that member associations can apply for loans and can be directed to wider football community in their respective territories including Clubs, players, leagues or others that have been affected.
FIFA added: “All FIFA member associations will be able to apply for interest-free loans amounting to up to 35 per cent of their audited annual revenues. In the interest of solidarity, a minimum loan entitlement of USD 500,000 and a maximum loan entitlement of USD 5 million will be available. In addition, each confederation will have access to a loan of up to USD 4 million.”
UPL Clubs owners/officials who attended the meeting;
- Express FC – Kiryowa Kiwanuka
- KCCA – Moses Kaddu
- SC Villa – Shawn Mubiru
- Kyetume – Ruben Mubiru
- Police FC – Fahad Lumu
- BUL FC – Ahmed Kongola
- UPDF – Ashraf Miiro
- URA – Caesar Kabeja
- MYDA – Peter Emojong
- Busoga – Diana Nyago
- Bright Stars – Ronald Mutebi
- Vipers – George Mulindwa
- Wakiso Giants – Hassan Lule
