The Big Four of German football, Bayern Munich, Borussia Dortmund, Bayer Leverkusen and RB Leipzig, have pledged 20 million euros to help their rival clubs facing financial difficulty due to the lockdown caused by the novel coronavirus.

The money will be handed over to the German Football League (DFL) and it will be responsible for deciding how the money is distributed among the clubs of the top two divisions, Bundesliga and Bundesliga 2.

The four clubs have decided to forego next season’s TV rights revenue worth 12.5 million euros and shed another 7.5 million from their own pockets for the other clubs to get over the economic stress.

“This initiative shows that solidarity is more than just lip service in the Bundesliga and Bundesliga 2. The DFL Executive Committee is very thankful to the four Champions League participants for their gesture towards our community of clubs,” said DFL Executive Committee spokesman Christian Seifert as quoted on the official website of Borussia Dortmund.

“In these difficult times, it’s important that the stronger shoulders support the weaker shoulders. With this, we also want to show that football is standing together right now,” Bayern Munich CEO Karl Heinz Rummenigge said as quoted on the club’s official website.

“BVB is currently having a major impact on society through a wide range of initiatives. And naturally we are prepared to help out other professional football clubs if it is ultimately a matter of cushioning the financial effects of the pandemic,” Dortmund CEO Hans-Joachim Watzke said.

The COVID-19 pandemic, which has already affected more than 47,000 people and killed over 280 people in Germany, has forced the football season there into a standstill like in most parts of Europe.

The officials are expected to convey a clear solution to the crisis in the last week of March but the return of football in April remains highly unlikely.

With only a few clubs backed by billionaire investors, most of the German clubs in the top two divisions are facing an existential crisis and are hoping that the remaining of the season can at least be played behind the closed doors to avoid huge TV revenue losses.