International Federation of Association Football (FIFA) is going to invest USD 1 billion in women’s football, according to the statement of the organization’s president Gianni Infantino.
The decision to invest money was made at the FIFA Council in Shanghai. It is expected that they will spend USD 1 billion over the following four years.
Initially FIFA planned to invest into women’s football only USD 500 million. Eventually the organization decided to double the amount, using their reserves.
It should be mentioned that $1bn is a notable amount of money for the sports industry. For comparison, PUBG Global Championship, which will be held in Los Angeles, will feature only a $2,000,000 prize pool.
During the post-council press conference, the FIFA’s president Gianno Infantino explained the decision by an incredibly stable financial status of the organization. According to his statement, the Federation has never been so stable in finances.
Infantino explained, that the invested money will be used to organize developmental tournaments in women’s football. The president of FIFA noted, that the tournaments will be held all over the globe.
Women’s football and its development were not the only topics discussed at the FIFA’s Council. The organization’s representatives also ruled to host an updated Club World Cup, which will take place in China.
The event is scheduled for 2021; it is expected that the matches will be played between June and July. The qualification process currently remains unknown. FIFA is going to make this decision after conducting consultations with six regional confederations.