Soccer News of Wednesday, 13 July 2016

Source: ghanasoccernet.com

Ghana FA gets massive $5m cash boost from FIFA

FIFA FIFA

The Ghana Football Association (GFA) has received a massive cash boost from FIFA as the world governing body will spend $5m on the local federation over the next four years.

The cash support represents a 312% increment from the support the world governing body gives annually to its members to ensure their smooth operation.

The financial support for member associations and football development has now jumped to $5m per every four-year cycle for each member association from the $1.6m paid to members for four years.

Under the previous programme, each federation including the GFA got annual support amount of $400,000 to help in administering the game in the country.

Following the bumper increase, the GFA will receive $1,250,000 every year to support the specific programmes to be dictated out FIFA.

This means the GFA and member associations will have access to 750,000 US dollars per year for football projects such as pitches, competitions and women’s football.

The GFA will receives up to $500,000 US dollars per year for running costs in areas including administration and governance.

The process for the implementation commences from June 1, 2017 and the governing body is also increasing its financial support for the six confederations so that they can do more to develop football in their regions.

Confederations now receive $40m per four-year cycle for football development, up from $22m.