FAM gets K308m from Fifa
Football Association of Malawi (FAM) and other 208 global member associations of Fifa will each get $750 000 (about K308.3 million) financial support from the world football’s governing body.
Fifa plans to pay out $200 million (about K82.2 billion) in total bonuses to its national members and confederations from its World Cup revenue of an estimated $4.5 billion.
According to a communique
from Fifa, each of the 209 member countries will get $250 000 (about K102.8 million) this month and should get a further $500 000 by early next year, Fifa’s finance director Markus Kattner told the governing body’s congress last week.
The six continental bodies will get $2.5 million this month and $4.5 million more next year.
Kattner said the bonuses must be approved by independent audit panel chairperson Domenico Scala, but that there is no reason to think the extra payments will not be made.
Reacting to the financial boost, FAM president Walter Nyamilandu said: “It is good news. It is the kind of money we require for investment and it has come at the right time.”
He said the area of investment will be decided at the next FAM committee meeting.
These payments are not part of the Fifa Goal Project funds which are usually provided to support a member association’s development projects.
The planned bonuses are a $200 000 raise compared to the payments made after the 2010 World Cup hosted by South Africa when each Fifa member got a total of $550 000. Then, the six confederations received a total of $5 million each.
Fifa expects improved revenue of $4.5 billion for the four-year commercial cycle tied to the 2014 World Cup. It had budgeted to earn $3.8 billion.
Kattner said Fifa expects to earn $5 billion in the cycle leading to the 2018 World Cup.
A total of $2.7 billion should come from broadcasting rights sales, and $2.3 billion from sponsors and licensing.
Fifa has budgeted to spend $4.9 billion through 2018, with $100 million added to its reserves. Fifa’s reserve fund is currently more than $1.4 billion.
