Safa in the money

SA National Teams

The announcement was made by Fifa at their congress in Rio de Janeiro and although a ‘bonus’ of some sort had been expected, Fifa put a number to it on Wednesday.

Safa, along with the 208 other member associations, will each receive R2.7-million immediately and a further R5.4-million in January after Fifa laid out the financial health of the organisation and said they had exceeded revenue targets in the last fiscal.

Furthermore, the Confederation of African Football (CAF) will receive R75-million in additional funding from Fifa.

Fifa finance chairman Julio Grondona said the organisation generated a surplus of more than R770-million in the last fiscal and has reserves of R15-billion, more than 20 times what it held two decades ago.