#Russia2018: FIFA raises prize money to $400m

Works football governing body, FIFA, on Friday raised the price money for participating teams in the World Cup #Russia2018 to $400 million.

The decision was taken by the FIFA Council after its meeying in Kolkata, India.

It also approved Enhanced Bidding Regulations for the 2026 FIFA World Cup and decided on the establishment of a FIFA Foundation.

The FIFA Council convened in Kolkata and decided on a few important elements related to the FIFA World Cup™ – for both next year’s edition in Russia and the future of football’s showpiece competition, the football governing body said on its website.

FIFA’s strategic body approved an increase in the prize money for the 2018 FIFA World Cup Russia™ to a total amount of USD 400 million — 12 per cent up from the USD 358 million awarded at the 2014 edition.

FIFA World Cup 2018
FIFA World Cup 2018

Nigeria is one of the countries that have qualified for the finals.

The FIFA Council also ratified the decision of the Bureau of the Council of September 6, 2017 to approve the enhanced Bidding Regulations for the 2026 FIFA World Cup™, and appointed the members of the Bid Evaluation Task Force.

According to the Bidding Regulations, the Task Force must be composed of the chairpersons of the Audit & Compliance Committee and the Governance Committee – in this case, Tomaz Vesel and Mukul Mudgal respectively – as well as a member of the Organising Committee for Competitions (Ilco Gjorgioski was appointed), together with experts from the administration: Deputy Secretaries General Zvonimir Boban (football) and Marco Villiger (administration).

The meeting in Kolkata covered a wide array of topics and saw the FIFA Council passing a number of important decisions, including the following:

· Establishment of the FIFA Foundation, with the purpose of providing a solid legal and institutional basis for FIFA’s social development initiatives. One of the core intentions of the FIFA Foundation will be to institutionalise a commitment of the FIFA Legends to engage in such activities and act as promoters of FIFA’s aims and objectives related to social development.

The FIFA Foundation should be operational by the first quarter of 2018 and will initially comprise the FIFA President and two members of the FIFA Council, Sonia Bien-Aime and Kwesi Nyantakyi. Later in the year, the FIFA Council will appoint a selection of respected personalities – from football and other areas of society – as additional members of the Foundation Board.

· Decision to engage in a consultation phase to discuss a review of FIFA’s women’s, youth and club tournaments. A number of different draft formats will be submitted for discussion with the member associations at the FIFA Executive Football Summits, as well as with the confederations and other relevant stakeholders. Final concepts are planned to be submitted to the FIFA Council for approval during the body’s next meeting, on 15 and 16 March 2018 in Bogota, Colombia.

· Approval of the following FIFA tournament dates:

o FIFA U-20 Women’s World Cup France 2018: August 5 to 24, 2018

o FIFA U-17 Women’s World Cup Uruguay 2018: November 13 to December 1, 2018

o FIFA Club World Cup UAE 2018: December 12 to 22, 2018

o FIFA Women’s World Cup France 2019™: 7 June to 7 July 2019

· Adoption of the International Match Transfer System for professional women’s football as of January 1, 2018.

The regulatory mechanism will enable FIFA to monitor the international movements and transfer market, bringing more transparency to the women’s game and enhancing its level of professionalism.

· Recognition of all European and South American teams that won the Intercontinental Cup – played between 1960 and 2004 – as club world champions.

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