Pinnick Supports FIFA's $40M Funding Proposal for Football
Amaju Pinnick, the former president of the Nigeria Football Federation and current deputy chairperson of FIFA’s Men’s National Teams Competitions Committee, has endorsed FIFA president Gianni Infantino’s proposal to sell a stake in the commercial rights of the FIFA World Cup and other competitions. Pinnick argues that this initiative could empower developing nations to finance football independently of government support.
Infantino has reached out to all 211 FIFA member associations, urging them to back the establishment of a new commercial subsidiary valued at $20 billion, with private investors owning a 20% stake. The member associations have until September 19 to respond to the proposal, which has faced criticism from various European football governing bodies.
Pinnick stated that each member association could receive approximately $40 million from this investment and the FIFA Forward Programme, reducing reliance on government funding. He expressed confidence in FIFA's control mechanisms regarding fund management.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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