CFL request government bailout of up to C$150m

CFL request government bailout of up to C$150m

The proposed bailout depends on the outcome of whether the season goes ahead or not.

Canada.- The Canadian Football League (CFL) is asking the federal government for a bailout worth C$150million (US$107million) as it battles the financial impact of Covid-19.

The proposed bailout depends on the outcome of whether the season goes ahead or not.

The start of the 2020 CFL season was scheduled to begin on June 11 but due to worries of a further spread of Covid-19, that date has been pushed back to July at the earliest.

CFL Commissioner, Randy Ambrosie, told The Canadian Press that the league’s proposal involves three phases: $30million now to manage the impact the Coronavirus outbreak has had on league business; additional assistance for an abbreviated regular season; and up to another $120million in the event of a lost 2020 campaign.

The potential cancellation of the CFL will also greatly impact the sports betting industry in Canada, which earlier this year announced a new law to make sports wagering safer in the country.

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