The world football governing body, FIFA, has addressed one of the ultimate difficulty hindering the growth of football worldwide, which is the case of unpaid salaries.
FIFA has led plans which involve putting players facing salary payment problems on a bankroll funded by an established global fund.
The World Players’ Union, which consists of FIFA and FIFPRO have both reached an agreement to establish the FIFA Fund for Football Players registered under (FIFA FFP). This is with the hope of providing financial support to players who have not been paid and have no chance of receiving their due wages which were initially agreed with their clubs.
FIFA declared that it has put aside $16 million until 2022 for the fund.
FIFA official statement read:
”This amount will be allocated in instalments of $3 million in 2020, $4 million in 2021 and 2022 and $5 million for the retroactive protection of players salaries for the period between July 2015 and June 2020.
"While these grants will not cover the full amount of salaries owed to players, this fund will provide an important safety net, This new mechanism will take effect on July 1.”
The agreement was reached on Tuesday between both parties, FIFA and FIFA Pro.
The agreement will also warrant the establishment of a monitoring committee to oversee matters in relation to generating funds and supervising the distribution of the grant.