🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Soccer-FIFA chief Infantino to be paid 1.5 mln Swiss francs a year

Published 01/09/2016, 03:34 am
Updated 01/09/2016, 03:40 am
© Reuters.  Soccer-FIFA chief Infantino to be paid 1.5 mln Swiss francs a year

ZURICH, Aug 31 (Reuters) - FIFA president Gianni Infantino will be paid a salary of 1.5 million Swiss francs ($1.53 million) a year, less than a quarter of that received by his predecessor Sepp Blatter, soccer's world governing body announced on Wednesday.

Infantino, who was elected on Feb. 26, will also get a "car and lodging free of charge during his term and contribution to expenses in accordance with FIFA's expenses regulations," FIFA said in a statement.

He is also entitled to bonus payments, though there would not be any this year because the bonus system had been open to "dysfunction and abuse" and needed to be reformed, FIFA said.

"Bonus payments from 2017 onwards will be awarded in accordance with objective criteria related to FIFA's mission and operations as well as the outcome of the organisational reforms, now being implemented," said the statement.

FIFA secretary general Fatma Samoura will be paid 1.3 million Swiss francs per year plus the same benefits as Infantino, FIFA said.

"The FIFA president's annual compensation represents less than 25 percent of his predecessor's compensation (average 2010-2015 including bonus)," said the statement.

FIFA had said in June that Blatter and two other leading officials were involved in a "coordinated attempt" to enrich themselves through annual salary increases and World Cup bonuses.

FIFA said an internal investigation revealed that the three officials, who also included former secretary general Jerome Valcke and ex-finance director Markus Kattner, had received 79 million Swiss francs in compensation over five years.

"Given misunderstandings and misrepresentations concerning this process and my compensation, I am pleased that this matter is resolved and that I have a signed, valid employment agreement," said Infantino.

"I am determined that abuses of the system will not happen under my presidency."

Tomaz Vesel, head of FIFA's compensation sub-committee, said the amounts were "absolutely appropriate considering the challenging duties" which Infantino and Samoura faced.

"The FIFA president plays a key role as the leader of FIFA," said Vesel. "He leads the organisation, setting its overall strategy with a clear mission to develop and protect the game. He also has a great responsibility in the reform process that has begun in FIFA."

($1 = 0.9823 Swiss francs) (Writing by Brian Homewood; Editing by Ken Ferris)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.