FIFA to give $750 000 to each of 208 member federations

FIFA to give $750 000 to each of 208 member federations

Each of the world’s 208 member soccer federations and the six regional confederations will be given the sum of US$750 000 (R8.25 million) and US$4.5 million (about R49.5 million), respectively, world governing body FIFA (Federation Internationale de Football Association) said.

The announcement was made this week at the organisation’s congress in Brazil, where the 2014 FIFA World Cup kicked off this week.

The federations will get each US$250 000 this month as first installment, and the rest will be given early next year, while the confederations will get US$2.5 million this month and the rest in early 2015, FIFA financial director Markus Kuttner told delegates.

But critics said while FIFA, one of the world’s richest enterprises, made a lot of money from governing world soccer, the money it was giving its affiliated federations as financial support was too little and unsustainable, especially for African federations.

There is also the issue of corruption and financial mismanagement, whereby money coming from FIFA and other donors is swindled by soccer administrators in collaboration with politicians, and therefore leaving the state of a country’s soccer in a dire situation.

“I think FIFA should have appointed someone credible, like a trustworthy auditor, to ensure that the money it was giving to these federations was well managed and reached its targets,” one African soccer administrator told Moon of the South.

Furthermore, Kuttner said that the budget for the 2018 World Cup in Russia will be US$2.153 billion, and $91 million will be spent on the 2016, 2017 and 2018 Club World Cups and $60 million on the next women’s World Cup in Canada in 2015.

“The financial outlook for 2015-18 is very positive,” he pointed out.

Photo: Brazil 3, Croatia 1, opening game of the 2014 FIFA World Cup in Brazil, 12 June.

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