CONCACAF rescues T&T FA with bail-out loan
PORT OF SPAIN, Trinidad (CMC) — CONCACAF has rescued the Trinidad and Tobago Football Association (TTFA) with a bail-out loan after football’s world governing body, FIFA, halted funding to the struggling association.
President Raymond Tim Kee says the loan is to cover administrative expenses of the TTFA since it has not been able to pay staff salaries since July.
“CONCACAF is aware of all that has happened and they have decided to give us a loan to pay those salaries,” said Tim Kee in an interview with the Trinidad Express.
“CONCACAF has already sent the money. It had to be cleared, and our staff will probably get their salary today or tomorrow.”
TTFA receives an annual subvention of US$250,000 every year in four instalments under FIFA’s Financial Assistance Programme.
However, FIFA has taken a decision to stop funding over TTFA’s failure to produce audited statements dating back to 2008.
