Tournament News
Big insurance cover for 2010
2008-10-24 19:33
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Zurich - World soccer body FIFA on Friday said it was confident that the global credit crunch would not hit the 2010 or 2014 World Cups, revealing football's world body had concluded a 650 million dollar (514.6 million euro) insurance package to cover the events.
"To ensure the 2010 (South African) and 2014 (Brazilian) World Cups are a success - were natural disasters or other acts to occur - we have insured" the events, FIFA President Sepp Blatter said at an executive committee meeting in Zurich.
Secretary General Jerome Valcke said the insurance was protection against any event which might force either a postponement or moving a tournament to another country.
But he added this was standard practice and insisted that "there is nothing to indicate any lack of trust in the organising committee of 2010."
FIFA have insisted that South Africa are on track to hold what would be the continent's first ever World Cup.
"There has always been an insurance policy for World Cups and has to do with a natural or non-natural catastrophe or any event that could lead to the postponement of the event to another country from South Africa," Valcke said.
Blatter added that 95 percent of the 2010 budget had already been brought under contract and FIFA was on top of projected costs.
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