Is Indian football nearing a financial downfall? According to a report from Khel Now, the All India Football Federation (AIFF) has only Rs 19.89 Crore in its savings account, which the organization can use freely, not the illusory amount of Rs 50 Crore!
In the AGM, held on 20th December, AIFF has shown that it has a fund of Rs 50.57 Crore. But in reality, the number looks fantasy! The truth is that the AIFF has a bank balance of Rs 19.89 Crore, which it can use freely. It has a fixed-deposit of Rs 21. 63 Crore, which s locked in and also has nearly Rs 10 Crore which belongs to Fifia projects! The money granted by FIFA cannot be freely used as it comes with strict conditions.
The federation still projects an approximate deficit of Rs 23 Crore by 31st May this year. Along with this, if the unpaid bills and liabilities are added, the deficiency goes to Rs 25.88 Crore!
One of the senior AIFF executives, when asked about the issue by Parallel Sports, divulged on condition of anonymity, “Yes, the AIFF is going through a severe financial crisis. Still, we are optimistic that the situation will change.”
Despite the struggle, the ongoing Indian Women’s League (IWL) has got an investment of approximately Rs 3 Crore. But the Federation has to bear the whole expenses of the Santosh Trophy, which goes to approximately Rs 4 Crore.
If sponsorship cannot be obtained, then the AIFF has plans to go for cost curtailment, and in that case, a couple of age-group tournaments, which were introduced a couple of years ago as a part of youth development programs, may be stopped for this season.
However, the AIFF seems to have a ray of hope amidst the dwindling present, that the Union Sports Ministry has promised to come forward for the training of the junior and men’s junior national teams, even financially, who have earned qualification for the Asian Cup main round.
