FIFA president Gianni has revealed that the organisation’s reserves stand at about $4 billion (approximately shs. 15 trillion) since he took over in February 2016.
FIFA president Gianni has revealed that the organisation’s reserves stand at about $4 billion (approximately shs. 15 trillion) since he took over in February 2016.
Infantino who was re-elected by acclamation was wooing the 207 members present for the 73rd FIFA Congress in Rwanda’s capital Kigali on Thursday.
“When I arrived at FIFA, the reserves were about $1 billion but today, they’re almost more than $4 billion,” he said before assuring that the money will be channeled to football development projects.
According to the FIFA financial reports released in 2015, the reserves stood at a solid level of $ 1.34 billion.
“This is money that we can inject into football because this is your money,” he remarked.
Increase in money
The Swiss-Italian also reminded the members about the progress made by FIFA in providing more funding to them.
“Many of you can remember that before being elected to the presidency, each federation would receive about $250,000 per year, so it’s seven times more as of now.
“If a [company’s] CEO tells the company that their revenues multiplied by seven times, then that company would love to keep him,” he said before the acclamation.
Infantino has been re-elected to rule until 2017. He will be eligible for another term to run up to 2030.
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