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Saturday, June 22, 2024

Gianni Infantino, the president of FIFA, received a 33% pay increase

<p>Football’s governing body, FIFA, said in its financial report that president Gianni Infantino received a pay increase of 33% last year, bringing his overall compensation package to nearly 4.13 million Swiss francs ($4.67 million).</p>
<p><img decoding=”async” class=”alignnone wp-image-518454″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-gianni-infantino-the-president-of-fifa-received-a-33-pay-increase-gianni-infantino.jpg” alt=”theindiaprint.com gianni infantino the president of fifa received a 33 pay increase gianni infantino” width=”1030″ height=”774″ title=”Gianni Infantino, the president of FIFA, received a 33% pay increase 6″></p>
<p>Before FIFA organized the Women’s World Cup in Australia and New Zealand and selected favored contenders to host two future Men’s World Cups, including the 2034 tournament in Saudi Arabia, Infantino was re-elected without opposition in 2023, extending his leadership to 11 years.</p>
<p>Infantino received a pre-tax base salary payment of more than 2.46 million Swiss francs ($2.78 million) last year, an increase of more than 500,000 Swiss francs ($565,000). His yearly compensation was the same as in 2022, when Qatar hosted the men’s World Cup, at 1.65 million Swiss francs ($1.87 million).</p>
<p>In addition to his $3 million base pay and yearly incentives, Sepp Blatter, the former head of FIFA, earned a $12 million contractual bonus for the 2014 World Cup.</p>
<p>Infantino, who oversaw tournament preparations from his residence in Qatar in 2022, currently resides in Coral Gables, Florida, home of FIFA, in anticipation of the United States co-hosting the 2022 men’s World Cup with Canada and Mexico. There is no state income tax in Florida.</p>
<p>In the four-year financial cycle from 2023 to 2026, FIFA has planned for a total income of $11 billion. Longtime partners Coca-Cola, Adidas, and Visa are likely to join Saudi sponsor Aramco, the state oil company. With 48 teams and 104 games, the 2026 World Cup will be the first of its kind.</p>
<p>FIFA’s usually cautious forecast did not account for revenue from the 32-team men’s Club World Cup, which will begin play in the United States in 2019.</p>
<p>In her last year of service, FIFA gave its CEO-like secretary general, Fatma Samoura, the same compensation of 1.9 million Swiss francs ($2.15 million) as in 2022. Before departing in December, she received a bonus of 600,000 Swiss francs ($670,000) in addition to her salary of 1.3 million Swiss francs ($1.47 million).</p>
<p>Despite suggestions from a reforms team, of which he was a member, established in the wake of the FIFA corruption allegations in 2015, Infantino has continued to manage the organization as an executive. The reform group also pushed for disclosing management compensation information.</p>
<p>FIFA remuneration is determined by a tribunal led by former Indian judge Mukul Mudgal, who was paid $250,000 last year for supervising governance and compliance at the soccer organization.</p>
<p>The 37-member FIFA Council continued to receive the same payments. The six vice presidents who oversee continental soccer associations received a net sum of $300,000 in addition to their overhead. Each year, other members received $250,000 plus costs.</p>
<p>According to UEFA’s financial report released last month, Aleksander Čeferin, the president of the European soccer organization, was also given a gross salary of over 2.9 million Swiss francs ($3.26 million) without bonuses.</p>
<p>Comparatively, the highest paid domestic soccer league’s chief executive, Richard Masters of the English Premier League, earned 1.8 million pounds ($2.3 million) in 2022.</p>
<p>The men’s World Cup will account for the majority of FIFA’s commercial revenue, which will be recorded in 2026.</p>
<p>FIFA reported $1.17 billion in income for 2023—the year of the Women’s World Cup—of which $456 million came from commercial agreements and $267 million from television. $43 million in tickets and hospitality were sold for the 32-team, 64-game women’s tournament.</p>
<p>FIFA said that it invested and spent almost $1.75 billion in 2023, of which $499 million was allocated to the Women’s World Cup. $152 million was paid to the players, their clubs, and the participating teams.</p>
<p>FIFA currently provides up to $8 million in money every four years to each of its 211 member federations; last year, funding for soccer development came from this initiative to the tune of $470 million.</p>
<p>FIFA said that its financial reserves decreased somewhat to over $3.6 billion, calling the sum “a very solid level.” The next two years should see a decline, followed by another surge in 2026.</p>

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