FIFA’s $100 Million to Boost Brazil as World Cup Gift

By Tariq Panja  

Photographer: Dado Galdieri/Bloomberg

A woman with shopping bags walks past a World Cup mural in Rio de Janeiro, Brazil, on July 8, 2014.

Soccer governing body FIFA agreed to create a $100 million fund to develop the sport in Brazil, a country that has won the World Cup more times than any other.
FIFA, which also funds a development program in 2010 tournament host South Africa, was the target of protesters in the buildup to the competition. Germany beat Argentina in the final to claim a fourth World Cup title after routing Brazil 7-1 in the semifinals. Brazil is a record five-time champion.
“Brazilians will remember the 2014 FIFA World Cup for generations to come as a tournament that made a fundamental contribution to our football,” outgoing Brazil soccer federation President Jose Maria Marin said.
Brazil spent about $15 billion to host the monthlong event. Though the preparation was chaotic, with delays and cancellations affecting several infrastructure projects and a
ccidents killing at least eight workers, the event itself was hailed as a success by FIFA and organizers. Fans enjoyed high-scoring games at packed stadiums before a faltering Brazil team suffered its record defeat to the eventual champion.
FIFA was targeted before the event by protesters using the slogan “Fora FIFA,” or “Get out FIFA.” A bus carrying FIFA staff was pelted with stones during the 2013 Confederations Cup, a warmup competition for the World Cup. A Brazilian government promise couldn’t keep a pledge to use private funding for all stadium costs.

Legacy Fund

“The legacy fund will be an excellent platform to spread the benefits of the unforgettable 2014 FIFA World Cup,” FIFA Secretary General Jerome Valcke said. “As in South Africa and Brazil, it is also our intention to use the upcoming FIFA World Cups to promote the sustainable development of football in the host countries.”
FIFA, a not-for-profit organization, earned more than $4 billion in sales from the World Cup and expects to get more than $5 billion when Russia hosts the event in 2018.
Construction of an artificial-turf field in the northern city of Belem, which didn’t host games, will be the first project to be completed under the program. All funds provided by FIFA will be subject to an annual audit by accountant KPMG.
In September, Brazil’s finance chief Guido Mantega partly blamed public holidays created for the World Cup for South America’s biggest economy going into recession.