World Cup trust fund to be launched


    27 September 2010

    A trust fund is to be formed to oversee the money that Fifa gives to South Africa following its successful hosting of the first Fifa World Cup on African soil, to ensure that the money goes towards football development in the country.

    Addressing a media briefing in Johannesburg on Thursday following a 2010 Local Organising Committee board meeting, Fifa secretary-general Jerome Valcke said the fund would be jointly managed by Fifa and the South African Football Association (Safa).

    “This will be a perfect opportunity for Safa to bring other investors on board for the future who will also contribute to this trust,” Valcke said, adding that he could not yet divulge the size of the fund.

    Local Organising Committee CEO Danny Jordaan declared his support for the trust fund, saying that South Africa would continue to benefit from hosting the Fifa World Cup for a long time to come.

    “The people who came to South Africa had a great experience, and I’m told that up to 93 percent of them said they will definitely come back to the country to visit.”

    Jordaan said plans were afoot to ensure that the stadiums constructed for World Cup were used extensively in the coming decades. “We are in a position where we can make bids for other major international events, and we will do so.

    “Durban is already talking about bidding for the Olympics, and they have the infrastructure already,” Jordaan said. “All they need to do is to make a few adjustments to meet such requirements.

    “After the World Cup, Soccer City hosted one of the biggest rugby matches in this country, and the same applies to other stadiums. These will continue to be national assets.”

    Valcke said the resounding success of the 2010 Fifa World Cup had set a new benchmark against which future global showpieces would be judged.