- Updated contract details monitoring, reporting and compliance measures for Legacy Fund
- Initial USD 25 million payment to kick-start activity plan proposed for 2019
- Communities from states that did not host FIFA World Cup matches in 2014 to also benefit from football development and legacy projects
FIFA and the Brazilian Football Association (CBF) have today given an update on the 2014 FIFA World Cup Legacy Fund, confirming the start of a four-year programme that will lead to a total of USD 100 million being invested into football development and legacy projects in the country.
Covering five priority areas, projects that will be supported by the 2014 FIFA World Cup Legacy Fund will work to benefit people and communities from across all 27 states, including 15 cities that did not host matches during the 2014 FIFA World Cup.
As part of the contract, an initial payment of USD 25 million will ensure the roll-out of the proposed projects in 2019. This amount is in addition to the USD 9 million paid by FIFA for legacy projects already undertaken in 2014 and 2015.
Projects supported by the 2014 FIFA World Cup Legacy Fund will resume after a comprehensive business plan was submitted by the CBF and approved by FIFA last November, along with the signing of a new contract of agreed objectives between the two organisations, which detail a comprehensive and strict set of monitoring, reporting and compliance measures that have been put in place.
A further six payment milestones until July 2022 have also been identified by FIFA and the CBF, which will be made subject to fulfilment of the annual project plan, the results of the FIFA central audit review and regular reports to be submitted by the CBF to FIFA.
The financial reporting and auditing will be governed by the provisions outlined in the contract of agreed objectives and in the FIFA Forward Development Programme Regulations.
In addition to the statutory auditor required by the CBF under the FIFA Forward regulations, the CBF will also hire a dedicated independent auditing firm, who will oversee the internal process to approve legacy fund projects that will be implemented by the CBF and then validated by FIFA.
Speaking on the 2014 FIFA World Cup Legacy Fund, Zvonimir Boban, FIFA Deputy Secretary General (Football), said: “Having worked extensively with the CBF administration over recent months, FIFA is happy to have agreed an enhanced structure and programme, which not only fulfills the commitments made to Brazil for hosting a spectacular 2014 FIFA World Cup but also aims to make a very real and lasting impact on the lives of many people and communities across the country.”
Rogério Caboclo, Executive Director of Management and elected President of the CBF, added: “We are happy with the progress made and the new agreement on the 2014 Legacy Fund, which will allow us to make a significant investment in the development of Brazilian football. Our initial priorities are the construction of training centres in states that did not host World Cup matches, grassroots and women’s football, as well as projects in the areas of sports medicine and social responsibility.”