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JFF could benefit from FIFA US$1.3-m Christmas bonus

But he cautioned that members have to meet FIFA’s requirements to become eligible for the lucrative pay-out.

Recently, FIFA announced that one-off financial contributions of US$1.05 million will be made next year to each of its 209 eligible member associations. In addition to the first US$250,000 bonus already made available, it means that each association could be given as much as US$1.3 million of one-off payments over the 18 months from June this year. The overall FIFA bill for this comes to US$271.7 million.

“Like all the national associations around the world, any funding that comes in is really going to be appreciated because we have nine national teams now: men and women participating in the various projects and various competitions and so on and it takes money. Even if we get a million [dollars] that will not be enough, but it would certainly go a far way,” he told the Jamaica Observer yesterday.

The JFF president did not confirm how much funding Jamaica would be entitled to, as according to him, there are criteria set by FIFA which have to be met by member nations.

“We know that there are some incentives coming, but in terms of quantum and how it will be dispersed…we have not yet been notified in that regard. They are not going to just give it out like that. There are projects which should be identified and this is how the system works. The finer details have not been announced and we have to bear in mind that there are requirements.

“I am sure some national associations might not be eligible… like if their financial audit is not up-to-date, and many national associations do not have their audit accounts up-to-date, so it is all these things,” Burrell said.

Using a “very busy” 2014 as a benchmark, Burrell estimated that the minimum budget for Jamaica’s 2015 programme should stand at US$5 million (about J$600 million).

“We would want to look at 2014, which was a very busy year for us and we would need, I would think, no less that $5 million to adequately fund our programmes in 2015. We have Gold Cup, we have the Copa America and we have World Cup qualifiers.”

The local football boss urged sponsors to buy into the various national programmes.

“We still have a very far way to go and I’m using the opportunity to ask corporate Jamaica for their help because football is certainly a tool to market their products,” Burrell said.

In a letter to FIFA members, Jérôme Valcke, the secretary general, confirmed that FIFA members would receive an “additional bonus” of US$500,000, “in connection with the final financial results of the 2014 FIFA World Cup Brazil”. This would be in addition to a US$300,000 payment to those participating in 2018 World Cup qualifiers which was first alluded to following a recent FIFA Executive Committee meeting in Marrakech, Morocco.

“Consequently and in summary,” Valcke wrote, “this means that in 2015, each member association will be entitled to receive US$1,050,000: US$250,000 for the 2015 Financial Assistance Programme (FAP); US$500,000 as a one-off financial bonus; and US$300,000 as support for the preparation of and participation in the 2018 FIFA World Cup qualifiers.”

With reserves of some US$1.4 billion, the organisation has the capacity to afford a period in which expenses outstrip revenues. It is also possible that FIFA has generated enough extra revenue in 2014 and 2015 to allow these payments to be made while remaining in surplus. However, with a single quadrennial event – the World Cup – still accounting for the vast majority of the organisation’s income, retention of a significant reserve is plainly desirable.




 

JFF could benefit from FIFA US$1.3-m Christmas bonus

But he cautioned that members have to meet FIFA’s requirements to become eligible for the lucrative pay-out.

Recently, FIFA announced that one-off financial contributions of US$1.05 million will be made next year to each of its 209 eligible member associations. In addition to the first US$250,000 bonus already made available, it means that each association could be given as much as US$1.3 million of one-off payments over the 18 months from June this year. The overall FIFA bill for this comes to US$271.7 million.

“Like all the national associations around the world, any funding that comes in is really going to be appreciated because we have nine national teams now: men and women participating in the various projects and various competitions and so on and it takes money. Even if we get a million [dollars] that will not be enough, but it would certainly go a far way,” he told the Jamaica Observer yesterday.

The JFF president did not confirm how much funding Jamaica would be entitled to, as according to him, there are criteria set by FIFA which have to be met by member nations.

“We know that there are some incentives coming, but in terms of quantum and how it will be dispersed…we have not yet been notified in that regard. They are not going to just give it out like that. There are projects which should be identified and this is how the system works. The finer details have not been announced and we have to bear in mind that there are requirements.

“I am sure some national associations might not be eligible… like if their financial audit is not up-to-date, and many national associations do not have their audit accounts up-to-date, so it is all these things,” Burrell said.

Using a “very busy” 2014 as a benchmark, Burrell estimated that the minimum budget for Jamaica’s 2015 programme should stand at US$5 million (about J$600 million).

“We would want to look at 2014, which was a very busy year for us and we would need, I would think, no less that $5 million to adequately fund our programmes in 2015. We have Gold Cup, we have the Copa America and we have World Cup qualifiers.”

The local football boss urged sponsors to buy into the various national programmes.

“We still have a very far way to go and I’m using the opportunity to ask corporate Jamaica for their help because football is certainly a tool to market their products,” Burrell said.

In a letter to FIFA members, Jérôme Valcke, the secretary general, confirmed that FIFA members would receive an “additional bonus” of US$500,000, “in connection with the final financial results of the 2014 FIFA World Cup Brazil”. This would be in addition to a US$300,000 payment to those participating in 2018 World Cup qualifiers which was first alluded to following a recent FIFA Executive Committee meeting in Marrakech, Morocco.

“Consequently and in summary,” Valcke wrote, “this means that in 2015, each member association will be entitled to receive US$1,050,000: US$250,000 for the 2015 Financial Assistance Programme (FAP); US$500,000 as a one-off financial bonus; and US$300,000 as support for the preparation of and participation in the 2018 FIFA World Cup qualifiers.”

With reserves of some US$1.4 billion, the organisation has the capacity to afford a period in which expenses outstrip revenues. It is also possible that FIFA has generated enough extra revenue in 2014 and 2015 to allow these payments to be made while remaining in surplus. However, with a single quadrennial event – the World Cup – still accounting for the vast majority of the organisation’s income, retention of a significant reserve is plainly desirable.




 

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