Switzerland Faces Pushback Over FIFA Loans - Legit Sports
A group of European officials no longer want FIFA’s money.
Swiss officials are reportedly hesitant to borrow money from soccer’s international governing body after $2 billion worth of loans to capital city Bern drew criticism.
“The priority is to have low-risk and short-term investments to be able to fulfill our mandate, which is to develop football around the world,” said a FIFA spokesperson.
FIFA’s financial practices have drawn criticism following the 2015 corruption scandal, which saw 14 people indicted for allegations of wire fraud, racketeering, and money laundering.
Officials in Switzerland have proposed a motion that would require Bern to create and implement governance rules regarding borrowing practices.
FIFA lent Swiss local authorities $2 million in 2016.
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