Scandal-tainted FIFA is heading for a US$100 million-plus deficit for last year and rival candidates for the leadership of soccer’s world body have warned of catastrophe if some campaign promises are carried out.
FIFA has US$1.5 billion in cash in the bank and its riches are a key battle for the five rivals who are to take part in Friday’s vote for a replacement for banned FIFA president Sepp Blatter.
Asian Football Confederation president Sheikh Salman bin Ebrahim Al Khalifa has said that some of his rivals’ promises to give more money to member nations could “bankrupt” the governing body by 2018.
‘VERY DANGEROUS’
Another contender, French former FIFA deputy general secretary Jerome Champagne, said that “very dangerous” financial promises are being made.
Champagne said in a letter to national associations that the world body suffered a deficit of about US$100 million last year — much attributed to the corruption scandals engulfing soccer.
He said two “top sponsors” are holding out on deals ahead of the 2018 FIFA World Cup in Russia and 20 out of 27 backers for other competitions.
According to Champagne, who is seen as an outsider in the FIFA presidential race, this could lead to a “worst case” cut of US$600 million in income up to 2018. However, this could increase if a major fine is inflicted on FIFA by Swiss or US authorities investigating soccer scandals.
Champagne cited a promise by another FIFA frontrunner, UEFA general secretary Gianni Infantino, to give US$5 million every four years to each national association for soccer development, plus US$40 million to each of the six continental bodies.
He said Infantino’s proposals would cost US$900 million over four years.
“It seems ludicrous to promise nearly US$1 billion with political and electoral objectives, after having criticized FIFA and Blatter for years on the alleged grounds that he received votes in exchange for development programs,” Champagne said.
Infantino’s campaign maintained that the money could be found through savings at the world body and increased revenues. Infantino said in his manifesto that there is “significant growth potential” for new sponsors.
Former FIFA vice president Prince Ali bin al-Hussein of Jordan, another presidential contender, has also called for a substantial increase in the return of soccer revenues to the 209 national associations.
Even Champagne has said FIFA should pay for every nation to have more artificial pitches. A fifth candidate, South African businessman and politician Tokyo Sexwale, does not mention a financial plan, apart from saying nations should be allowed to put sponsorship on national team jerseys.
FIFA’s money comes mainly from the World Cup and it gives accounts in four-year cycles after each tournament. It reported US$5.7 billion income, with a US$338 million surplus, in the four years after the 2010 tournament in South Africa. It is only estimating US$5 billion for last year to 2018.
However, it does have the cash amount of US$1.5 billion built up during the reign of Blatter.
Sheikh Salman said the reserve could be exhausted by 2018 if some of his rivals’ promises were carried out.
ZERO RESERVES
“This is the dire reality,” he told the insideworldfootball Web site last month. “By 2018, FIFA will have zero reserves left if today’s ‘status quo’ remains unchanged, and if there continues to be a substantial lack of income from TV and marketing rights sales.”
Experts said the cash mountain should be enough to help FIFA see out the corruption storm if corrective measures are taken.
The Emirates airline and Sony quit FIFA in 2014, before the arrests of seven officials at a FIFA congress last year set off the corruption turmoil.
Since then, no others have left, although Coca-Cola and McDonald’s have both called for more independent voices in FIFA’s reforms.
“FIFA can count on contracts already signed for the 2018 and 2022 World Cups,” one soccer marketing expert said.
“The sponsors do not want to give up their places for a rival to move in,” the industry professional said, speaking on condition of anonymity.
“Whilst FIFA has a massive challenge to rebuild trust in the organization, there is still huge interest in its products,” said Mike Laflin, a marketing specialist and founder of the Sportscal Web site. “Unlike the world athletics body ... the product actually has not been as badly tainted.”
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