Friday, May 14, 2010

LOC Says FIFA Cash 'Not a Bailout'

Local organizing committee chief Danny Jordaan is claiming that FIFA's recent injection of $100 million into the country's World Cup preparation fund was not a "bailout".

Fifa signed off the 25 percent increase at an executive committee meeting held in March, its secretary general Jerome Valcke told BBC Sport.

Valcke said the extra money was needed to help South Africa ensure that team training camps would be ready on time.

Fifa's R750m 'no bailout'
Independent Online
May 11, 2010