Fiji FA to introduce financial initiative
The Fiji Football Association will now have its Football Humanity Solidarity Funds after it was approved in the Fiji FA Board meeting and endorsed in the council meeting last weekend.
Fiji FA chief executive officer Mohammed Yusuf said the football for humanity solidarity funds would cater for financial effects on the football family following major disasters and pandemic like Covid 19 happened in Fiji.
“Fiji FA was caught unaware and had no reserves to fall on when the Pandemic hit us, thank fully through FIFA assistance and OFC we were able to help around 400 football families with much needed food rations and building materials,” said Yusuf
Yusuf said this was an initiative by Fiji FA president Rajesh Patel.
“The president’s initiative is to create a fund and built on it until we need to assist our footballers after epic proportion natural disasters or a pandemic like Covid 19.”
He said the funding would be deposited from the National League gate takings, major tournaments and sponsorships.
“Fiji FA gest 15% of national league earnings for National League board we will set aside 2.5% from each venue gate income which will give us an anticipated income of $2500 from Vodafone Premier League,”
“We will deduct $10,000 from the net income before the district and Fiji FA shares are worked out from the major tournaments which will be around $30000,”
“Two percent will be deducted and deposited in this fund from our sponsors cash amount,”
Yusuf said there would be 2.5 percent deduction from all club and districts sponsors which will be added in the fund.
“There will be 2.5 percent takings from all sponsorship for football from business for all clubs, districts which comes via the Prime Minister’s office will be deposited into this fund, so 2.5per cent first deduction is done by PM’s office then funds come to Fiji FA whereby another 2.5 per cent from initial sponsorship amount will be deducted and deposited in this football for humanity fund and then the balance will be given entity for which the sponsorship was sourced for,”
Yusuf added that the fund would only be utilized if there was a major crisis.
“The funds will only to be utilized if the following eventuates like a Pandemic declared by the United Nations and endorsed by the Fijian government, a natural disaster declared by the Fijian government like Hurricane, Cyclone, Earthquake, Tsunami or Major bush and this will only be applicable if no football can be played as a result of the above in Fiji, “said Yusuf
He said that if nothing drastic happens in the next 10 years than the fund would accumulate about $600,000.
The Football Humanity Solidarity Fund will start from January 2021.
