FIFA formally launched its new development program with national associations "now able to apply for the first tranche" of the $5M earmarked for them in the four-year cycle. The Development Committee "will now be overhauled with half of its members becoming independent." A "key" vote-winning pledge by FIFA President Gianni Infantino in his election manifesto was the $5M allocated for each national association in the four-year cycle. Confederations will "also benefit from the new development regime" with a $40M allocation over the four-year cycle, up from $22M (INSIDE WORLD FOOTBALL, 7/14).
Nigeria's League Management Company signed a partnership memorandum of understanding with Nigerian financial institution NASD Securities this week "in a move that could provide the final ingredient required to catalyse the domestic competition." NASD CEO Bola Ajomale said, "We share the belief that Nigerian football clubs can harness the power of the capital market and the passion of sports-loving Nigerians to develop reliable funding models." To do this, clubs "would have to sign up to, and meet the stringent corporate governance and financial reporting guidelines before they will even qualify to be listed or attract public funding" (ESPN.com, 7/13).
