Posted: Friday January 18, 2013 12:42 PM

SAfrican football left with $50M from World Cup

Decrease font Decrease font
Enlarge font Enlarge font

JOHANNESBURG (AP) -South Africa's football association has been left with $50 million from the 2010 World Cup to spend on developing the game in the country.

Former World Cup organizer Danny Jordaan says 56 million South African rands ($6 million) of that legacy fund has already been allocated to development programs after Friday's final board meeting of the 2010 World Cup Legacy Trust.

Jordaan says the remainder will be invested between three South African banks "to make sure that this money lasts for as long as possible.''

Nearly three years after the World Cup final, youth leagues, women's football and education and medical projects will receive the money given to South Africa by FIFA.

South African Football Association president Kirsten Nematandani says "the funds will be put to good use.''

 
SI.com
Hot Topics: NBA Draft Yasiel Puig NHL Playoffs NBA Playoffs Mark Cuban Jabari Parker
TM & © 2014 Time Inc. A Time Warner Company. All Rights Reserved.
Terms under which this service is provided to you. Read our privacy guidelines, your California privacy rights, and ad choices.
SI CoverRead All ArticlesBuy Cover Reprint