FIFA proposes $6.35 billion fund for football development: Details here
What's the story
FIFA has proposed a massive $6.35 billion fund for football development between 2027 and 2030. The plan, yet to be approved by the FIFA Congress, would see each of its 211 member associations get an increased allocation of $25 million, as per a document reviewed by the Associated Press on Tuesday. This is a major jump from the initial proposal of $10 million per association over four years.
Funding strategy
Funding to be sourced from FIFA's financial reserves
FIFA has proposed to allocate over $3.5 billion from its financial reserves for this purpose.
The decision comes after the commercial success of this year's expanded 48-team World Cup.
The governing body hopes to use this success as a springboard for increased investment in football development across its member associations, continental confederations, and other stakeholders.
Leadership challenges
FIFA facing criticism over financial decisions
The proposed financial plan comes at a time when FIFA is facing criticism from European football leaders over its financial decisions and leadership.
Gianni Infantino, the body's current chief, was criticized for his proposed World Cup private-investment plan that was scrapped within days of its July unveiling.
The proposal had raised concerns over FIFA's approach to commercializing its competitions.
Financial distribution
UEFA's opposition and wider implications
UEFA's opposition to the investment plan has sparked a wider debate over FIFA's financial management and revenue distribution among its member associations.
The new funding proposal puts national federations at the forefront of FIFA's plans for the next four-year cycle.
It also proposes a $99 million allocation to each of the six continental confederations, more than doubling planned funding for this period, with a special focus on women's and youth football development.