Čeferin calls on Infantino to pay €8.75 million to each FIFA member association

UEFA President Aleksander Čeferin has called for a complete review of FIFA's finances and demanded the distribution of the organization's £4.5 billion (more than $6 billion) in financial reserves.

According to The Mirror, cited by Report, in a letter sent to FIFA President Gianni Infantino, Čeferin proposed using part of the world football governing body's substantial financial reserves to allocate £7.5 million (more than $10 million) to each of its 211 member associations, the newspaper reports.

"FIFA must certainly remain financially strong, meet its existing commitments and maintain an appropriate reserve fund. Our analysis has fully taken all of this into account. However, FIFA currently has billions of dollars in accumulated reserves.

These funds belong to football and are intended for the development of the sport, as well as to serve FIFA"s 211 member associations. Prudence should not prevent a comprehensive examination of the possibility of responsibly using part of the reserves that exceed FIFA's projected needs," the newspaper quoted Čeferin as saying.

In July, it was reported that Gianni Infantino planned to establish a separate company to manage FIFA"s major men's and women's competitions. In his view, the creation of FIFA Forward Enterprise could not only increase revenues for member associations but also contribute to the development of world football.

FIFA said the project could generate $4.2 billion in revenue. The initiative has faced widespread criticism from football officials, federations and other organizations.

Gianni Infantino, 56, was elected FIFA president at an extraordinary FIFA Congress held in February 2016. He was subsequently re-elected twice without an opposing candidate.