FIFA will propose $6.3 billion funding for sport development

[AP Photo]

FIFA will propose to its members a $6.35 billion development fund for the next four-year cycle, including a boosted amount of $25 million for each national association, two people with knowledge of the plan and a letter reviewed by The Associated Press confirmed.

Soccer’s world governing body planned to use the financial success of the latest World Cup to enhance investment in the sport’s development across 211 FIFA member associations, confederations and other stakeholders. Originally, each association was to receive $10 million for the four-year period.

FIFA planned to distribute more than $3.5 billion from its financial reserves which were boosted with the success of its 48-team World Cup, said two officials, who spoke on condition of anonymity because the proposal had not been announced.

FIFA estimates approximately $15 billion in revenue in the 2022-26 cycle, including the men’s World Cup hosted by the United States, Canada and Mexico, significantly above projections, both people told AP.

The proposal comes as European soccer leaders seek a candidate to try to oust Gianni Infantino as FIFA president. Infantino’s divisive World Cup private investment plan — that was scrapped within days of being revealed in July — prompted UEFA to act.

Infantino, who became FIFA president in 2016, is seeking reelection next year.

On Sept. 28, the leaders of soccer’s six continental confederations received a letter from Infantino with the plan, which is expected to be finalized at the upcoming FIFA council meeting and approved at its congress in March. The AP has reviewed the letter.

“Taken together, your submissions confirm broad agreement on the central objective: FIFA’s financial success must serve football and all FIFA’s 211 member associations,” Infantino said in the letter. “I am confident that together we can reach a sustainable and properly supported outcome for FIFA’s member associations and for football in every part of the world.”

One of the people with knowledge of the proposal said continental confederations made the suggestion for FIFA to use its reserves in the plan, which now offers $99 million for each of the six confederations.

UEFA announced in August it was preparing a criminal complaint against Infantino in Switzerland for possible financial mismanagement in the World Cup sell-off deal, and has asked courts in the United States to authorize discovery of evidence.

UEFA’s 55 members account for more than a quarter of FIFA’s 211 member federations who can vote in the election on March 18 in Rabat, Morocco.

Any candidate to challenge Infantino must enter the race by a Nov. 18 deadline.

Infantino indicated last month he would be open to an independent review of FIFA’s governance system and signaled a willingness to consider reforms. MAURICIO SAVARESE, SAO PAULO,MDT/AP