The Canadian federal government will provide $72 million in relief funding to the country’s sport sector as the financial effects of the COVID-19 pandemic are being felt across the nation.
The announcement was made by Federal Heritage Minister Steven Guilbeault on Friday.
In total, Guilbeault announced that $500 million will be provided in pandemic relief for cultural, heritage and sport organizations.
“We are sincerely grateful to Prime Minister Trudeau and Minister Guilbeault for announcing the $72M investment to support the Canadian sport system,” the Canadian Olympic Committee (COC) and Canadian Paralympic Commitee (CPC) wrote in a press release after the announcement.
“National Sport Organizations are facing significant obstacles, including limited cash flows, layoffs and uncertainty. Along with this funding package, the COC and CPC will fully support the NSOs and broader sport community. We remain committed to playing our role in COVID-19 relief and recovery in concert with our partners at the Government of Canada.”
Per CBC Sports, the national sports organizations and institutes will receive $34 million, provinces and territories get $32 million, and the remaining $5 million will go to the Athlete Assistance Program.
In a separate CBC report on Tuesday, it was revealed just how dire the financial situation is for several Canadian sport organizations with all of the event cancellations.