SA hand out first allocation of World Cup money
South Africa disbursed the first R56 million of its 2010 World Cup legacy fund on Friday to a variety of projects involving teenage soccer players, coaches and administrators.
A total of R450 million was handed to South Africa by world soccer governing body FIFA in late 2010 as profit from hosting the finals. The money was placed in a trust and development projects seeking funding were invited to submit applications.
The trust board, including FIFA General Secretary Jerome Valcke, distributed the money to projects such as the establishment of boys and girls leagues at under-13 and under-15 levels and a programme to train coaches, referees and administrators.
“The World Cup has brought a lot to South Africa. It is a different place to that before the World Cup and not just because of the new infrastructure but the way it is perceived around the world,” Valcke said at a media conference on Friday.
Former World Cup organizer Danny Jordaan said R56 million of the legacy fund has already been allocated to development programs after Friday’s final board meeting of the 2010 World Cup Legacy Trust.
Jordaan said the remainder will be invested between three South African banks “to make sure that this money lasts for as long as possible.” Nearly three years after the World Cup final, youth leagues, women’s football and education and medical projects will receive the money given to South Africa by FIFA.
South African Football Association president Kirsten Nematandani said “the funds will be put to good use.”