Dylan Bettencourt
The South African Football Association (Safa) has closed the 2010 Fifa Legacy Trust after its funds ran dry – but they are unable to explain how the millions were spent.
South Africa hosted one of the best ever World Cups in 2010, and the country received R450 million from Fifa to develop football, but 12 years later, some of the money can’t be accounted for.
Safa received the bulk of the money, taking R420 million from Fifa to set up the Legacy Trust.
Chief Financial Officer for Safa Gronie Hluyo confirmed that the fund halted operations at the end of February with the remaining funds transferred to the association’s bank account.
“The trust is winding down. They are now busy doing the final audit. All the activities were stopped from 28 February and the bank account was closed. Safa had applied for funding this year and those funds were transferred to them,” Hluyo said.
“It means we have a 12-month grace period to look for replacement funding. For 2022 we are covered by those funds.”
In an attempt to explain how the fund money was spent, the CFO said Safa spent R83.5 million on the Sun Valley Resort in 2015 – a controversial project that Safa president Danny Jordaan was said to have inflated the price.
Jordaan, alongside other Safa members, allegedly inflated the price of several projects, suggesting that is the reason the trust no longer has funds.
Suspended Safa member Willie Mooka opened a case against Safa and the Sun Valley project as he believed the actual price of the resort was R30 million.
The Hawks confirmed last year that they are investigating the matter.
Hluyo added that junior national teams and women’s football were funded by the trust.
In 2019, Safa revealed that they only had R150 million left in the Trust after only nine years with Jordaan stating that the money left would not last until 2022.
And he was right. The funds have dried up.
Image source: @SABCNews
