News FIFA approves revised 2019/22 budget

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FIFA approves revised 2019/22 budget

News FIFA approves revised 2019/22 budget

Respite has come the way of the Nigeria Football Federation (NFF), as they are in the coming days to receive $500,000 (about 200 million Naira) from FIFA as a palliative for the Coronavirus Pandemic.

Football’s global governing body FIFA has predicted a drop of US$120 million in revenue for the period 2019-2022 due to the COVID-19 pandemic, as the FIFA Congress approved a revised budget for the four-year financial cycle on Friday.

The 70th FIFA Congress convened remotely for the first time, as all of the 211 member associations joined via videoconference on Friday, reports Xinhua news agency.

The revised 2019-2022 revenue budget has been reduced from US$6.56 billion to US$6.44 billion.

FIFA said the drop of US$120 million reflected the effects of the COVID-19 pandemic, but insisted that investment in football would continue unchanged for the full 2019-2022 cycle, with a reduction in the expense budget to compensate for lower revenues.

Meanwhile, FIFA president Gianni Infantino restated FIFA’s support for the football community during the crisis.

“We have been able to act quickly and decisively. We have prepared the COVID-19 Relief Plan for a global value of US$1.5 billion. This is unprecedented,” said Infantino.

Since the approval of the COVID-19 Relief Plan in June, FIFA has received applications from over 150 member associations.

“FIFA is not facing a crisis, but football is,” said Infantino. “The money goes where it has to go: to football and to help football.”

Infantino also reiterated FIFA’s prioritisation of women’s football through the recently-launched FIFA Women’s Development Programme and investment totalling US$1 billion over the current four-year cycle.

Additionally, the FIFA Congress also approved amendments relating to players switching national teams.

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