FIFA gives $100M back to Brazil for World Cup legacy fund
RIO DE JANEIRO —
Football’s world governing body FIFA said Tuesday it had set up a $100 million World Cup Legacy Fund for Brazil, aimed at sports facilities, youth and women’s football, and medical and health projects.
FIFA President Sepp Blatter pledged two years ago to give back some of the 2014 World Cup income to grassroots programs in the South American country, which spent about $15 billion organizing last year’s World Cup.
FIFA, a not-for-profit organization, generated more than $4 billion in sales from the 2014 World Cup. The figure could reach $5 billion for Russia’s 2018 World Cup.
An analysis earlier this month said Brazil spent about $3 billion on new and refurbished stadiums, 90 percent public money. Former President Luiz Inacio Lula da Silva had promised stadiums would be privately financed.