FIFA plans $6.3B development fund

SAO PAULO — 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 (AP) confirmed on Tuesday (Wednesday in Manila). 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 2022–2026 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...