Legacy Trust operational after R450m boost
South Africans will now start to reap the benefits of hosting the 2010 Fifa World Cup, the South African Football Association (Safa) said on Wednesday when it received R450-million from global football body Fifa.
“We are very pleased that the Legacy Trust is now fully operational,” said Fifa general secretary Jerome Valcke.
“It is the first time in the history of the Fifa World Cup that such a trust has been established and it required a complex administrative process, which is why it took us some time to set it up.
“I’m glad that we are now entering a phase that will focus on implementing the vision to ensure that the legacy can benefit the host country.”
Valcke was in the country to finalise the R450-million that was transferred by Fifa into the Legacy Trust accounts, which would be administered by international auditors Ernst and Young.
Safa said it had previously received a R140-million advance to help finance the build-up to the 2010 global showpiece, as well as R40-million for football development projects and R70-million for investment in a fleet of buses and cars for Safa’s 52 regional structures.
In total, it had received R700-million from Fifa.
It said the Legacy Trust would support a wide range of public initiatives in the areas of football development, education, health and humanitarian activity.
“From today, we can look forward to the fruits of 2010 being enjoyed at grassroots level and within communities across South Africa,” said Safa president Kirsten Nematandani.
Danny Jordaan, the CEO of the 2010 World Cup organising committee, has been appointed as the chairperson of the trust board.—Sapa.