Helsinki, April 5 (IANS) Union of European Football Associations (UEFA) President Aleksander Ceferin on Wednesday said the organisation does not aim to accumulate wealth.
Slovenian Ceferin advocated promoting the financial fair play policy and announced a solidarity payment of 1 million euros ($1.07 million) to each member association to help them develop work, reports Efe.
"UEFA is not here to accumulate wealth," he said during the 41st UEFA Congress in Helsinki.
"Solidarity is a value that has to be engraved in UEFA's DNA," Ceferin reiterated, according to UEFA official website.
The President pointed out that the solidarity payment, which will be available immediately, is possible thanks to the "excellent financial results in national team competitions".
Speaking to representatives of the 55 European federations present at the congress, Ceferin added that "financial fair play has been remarkably efficient in reducing club debt considerably".