FIFA proposes €5.5bn development fund as Infantino faces scrutiny
FIFA plans a $6.35 billion (€5.5 billion) four-year development fund, including $25 million (€21.5 million) for each national association, according to the Associated Press, cited by Euronews. The plan is expected to be finalised by FIFA’s Council in December and put to a vote at its March congress, as European football leaders seek a candidate to challenge president Gianni Infantino.
Bottom line — FIFA’s 211 member associations are due to vote on the proposal in March, the same month as the presidential election.
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Infantino sent the proposal to the heads of FIFA’s six continental confederations on 28 September, according to a letter reviewed by the Associated Press.
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The plan would raise associations’ four-year allocation from $10 million (€8.6 million) to $25 million (€21.5 million) each.
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Two officials told the Associated Press that FIFA plans to distribute more than $3.5 billion (€3 billion) from reserves boosted by the 48-team World Cup.
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FIFA expects about $15 billion (€12.9 billion) in revenue for the 2022–2026 cycle, the officials told the Associated Press.
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UEFA said in August it was preparing a criminal complaint in Switzerland over possible financial mismanagement linked to a World Cup commercial rights deal.
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Infantino, FIFA president since 2016, is seeking re-election; candidates challenging him must enter the race by 18 November.