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Home » Financial Focus: Taking Control of Your Money

Financial Focus: Taking Control of Your Money

Steve BrownBy Steve BrownOctober 25, 2024 Sport No Comments2 Mins Read
Financial Focus: Taking Control Of Your Money
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Concacaf President Victor Montagliani has expressed the regional body’s commitment to increasing support for the Jamaica Football Federation (JFF) as they seek greater funding to run the local football programme. Montagliani recently visited the island and met with JFF executives, as well as Jamaica’s Sports Minister Olivia “Babsy” Grange.

While the JFF has made progress in improving its financial status, with a significant reduction in deficit and an increase in cash flow, the federation acknowledges that more funding will be necessary to efficiently carry out its duties in the long term. Funding sources for the JFF currently include FIFA, adidas, the Government, and corporate sponsorships.

Montagliani highlighted that financial challenges are not unique to Jamaica and the Caribbean, with many FIFA nations facing similar issues. However, Concacaf has been working to address this issue by increasing funding to member associations by 200% since 2016, with plans for further growth. Montagliani emphasized the importance of instilling accountability, responsibility, and financial controls within member associations to ensure sustainable financial practices.

He praised the progress made by the JFF in treating associations as businesses and emphasized the importance of fiscal responsibility and discipline. Montagliani noted that cultural shifts and breaking old habits are necessary for building a strong business model within federations.

In addition to discussing financial matters, Montagliani commended Jamaica for its on-field success in football, particularly noting achievements by both the men’s and women’s teams at various levels. He highlighted the talent present in Jamaica and credited the opportunities provided by Concacaf competitions for the success seen in recent years.

Overall, Montagliani’s visit to Jamaica underscored Concacaf’s commitment to supporting member associations like the JFF in their efforts to improve financial stability and foster growth within the sport of football.

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