FIGC: agreement with Credito Sportivo (public bank) to support second and third division clubs

"A memorandum of understanding was signed in Rome (ITA) by FIGC president Gabriele Gravina and the president of Istituto per il Credito Sportivo (ICS, an Italian public investment bank dedicated to the financing of sports and cultural infrastructure) Andrea Abodi, to financially support professional clubs participating in the Serie B and Serie C championships," announced the Italian Football Federation on 17/03/2021.

In particular, the agreement defines the eligibility criteria for the €5m "Fondo Sostegno Calcio" (Football Support Fund) created by the FIGC, which allows each Lega Serie B and Lega Pro club "up to date with its federal obligations" to receive a "non-repayable contribution" of up to €100,000 and €50,000 respectively. The amount to be paid by the Italian Federation to each club will in fact correspond to 10% of the loan it has taken out with the ICS (maximum €1m for a Serie B club, €500,000 for a Serie C club), which has released a total sum of €50m.

"With this agreement, after having directly disbursed around €30m in the last year, the FIGC is continuing its work to…