Pinnick supports FIFA's $40 million funding plan for football

Former Nigeria Football Federation president Amaju Pinnick has shown support for FIFA president Gianni Infantino’s plan to sell a stake in the commercial rights to the World Cup and other FIFA events. He believes this move could help developing countries fund football without needing help from their governments, according to The PUNCH.

Pinnick, who is now the deputy chairperson of FIFA’s Men’s National Teams Competitions Committee, said Infantino has always introduced changes that have helped football associations around the world.

Infantino has reached out to all 211 FIFA member associations. He wants them to support a new commercial structure for FIFA events. The Times was the first to report on the letter that explains the proposal.

The plan involves FIFA creating a new commercial subsidiary worth $20 billion. Private investors would own a 20 percent share. This company would manage the commercial rights to events like the FIFA World Cup and the FIFA Club World Cup.

The 211 member associations have until September 19 to decide if they will approve or reject the proposal. Some football governing bodies, especially in Europe, have already criticized it.

While speaking on Arise Television’s The Morning Show on Thursday, Pinnick said the proposal should not be seen as a bad idea. He thinks it could bring in more money for FIFA’s member associations.

“When I was NFF president, I funded some small countries with $20,000 or $40,000 so they could go out and play their matches. Each member association will get about $20 million from this investment and another $20 million from the FIFA Forward Programme. So, if you have $40 million, you don’t need government to run football,” Pinnick said on Arise TV.

“What people should worry about is the integrity of the fund and the company, how the funds are shared and used. I know FIFA has control measures in place.”

In another development, the president of the Confederation of African Football, Dr Patrice Motsepe, will hold a meeting with the CAF Executive Committee next week. They will look at and evaluate the proposed FIFA Forward Enterprise initiative.

“CAF also encourages its Member Associations to look into the FIFA Forward Enterprise proposal and join the consultation process according to CAF and FIFA’s rules and procedures,” CAF said in a statement on Monday.

“CAF is dedicated to working with its Member Associations, FIFA, other Football Confederations, and stakeholders to boost financial and other resources for developing and growing football in Africa and around the world.”

Currently, member associations receive $8 million under the existing deal.

Neither CAF nor the NFF has said anything publicly about their stance on the proposal. The NFF will also have its elective congress in September.

Both CAF president Patrice Motsepe and NFF president Ibrahim Gusau have shown support for Infantino’s leadership lately. Motsepe has backed Infantino’s reform agenda, while Gusau has also supported Infantino’s bid for another term.