AIFF members block Kalyan Chaubey’s proposal at SGBM to liquidate Rs 20 crore fixed deposit

Members of the All India Football Federation opposed president Kalyan Chaubey’s proposal at Sunday’s Special General Body Meeting to liquidate a Rs 20 crore fixed deposit to meet appearance-fee liabilities arising from recent friendlies with Brazil and Uruguay, according to reports. The meeting was held virtually and the issue will require further discussion before the Executive Committee can decide whether to approve any withdrawal.

The federation has come under financial strain after hosting international friendlies against Brazil, Uruguay and Panama last month, with PTI reporting a potential deficit of Rs 80-85 crore. TOI reported that AIFF holds a Rs 20 crore fixed deposit and has sought an extension to clear pending appearance fees. The proposed liquidation aimed to cover outstanding liabilities but met resistance from General Body members who argued reserves should be preserved except for emergencies.

TOI said Brazil is due approximately Rs 19 crore and Uruguay around Rs 4.7 crore, and that both nations have reportedly received only 50% of their appearance fees while Panama have been paid in full. The federation did not disclose the precise outstanding amount during the meeting, citing confidentiality clauses in its agreements.

According to TOI, Chaubey asked members to approve withdrawing funds from the fixed deposit before maturity and offered to arrange external money to replenish the account: “The AIFF president (Kalyan Chaubey) requested members to approve withdrawing money from the fixed deposit (before maturity) and said he would later get the money back into the account.” PTI quoted a senior state association official saying, “Yes, he (Chaubey) said he wants to liquidate the AIFF’s fixed deposit to pay the deficit (arising out of the international friendlies).”

PTI also reported Chaubey told members he would source outside funding and return whatever amount was withdrawn: “Later, he (Chaubey) also said that he would arrange funds from outside sources and then pay back whatever amount is to be withdrawn from the FD.” The proposal met considerable opposition, with vice-president NA Haris intervening and stating, “there is a decision of the Executive Committee of the AIFF that the FD cannot be liquidated.” A senior state association official added: “Other members also said for whatever reason, the AIFF’s fixed deposit cannot be touched. it’s only for emergency.”

Former AIFF president Praful Patel, who led the federation from 2018 to 2022, attended the virtual meeting and opposed the proposal, drawing support from several state association presidents. PTI quoted a state association official saying Patel asked for clarity on liabilities and payment deadlines: “Praful Patel asked Chaubey to let all the members know when and how much money the AIFF will have to pay to the creditors.”

The meeting also covered commercial returns from the friendlies, with the federation having projected ticket revenue of around Rs 30-40 crore but sales falling short of expectations and prompting discounted arrangements for supporters of Mohun Bagan Super Giant, East Bengal and Mohammedan Sporting plus a Buy One Get One Free offer for the India vs Brazil match. TOI reported AIFF had received Rs 25 crore from its ticketing partner as a recoupable advance, which the federation may have to return in part.

The Brazil fixture drew attention for the visitors’ squad, which included Vinicius Jr, Marquinhos, Arsenal defender Gabriel Magalhaes, Endrick and Chelsea’s Estêvão, yet the reported revenue shortfall left questions around how the federation will settle the liabilities arising from the friendlies.

The proposal to liquidate the Rs 20 crore fixed deposit remains stalled and the meeting concluded with a decision to form a core group under NA Haris to examine financial details before the Executive Committee revisits the matter. As a state association official told PTI: “Later on, it was decided that Haris would invite some persons from the General Body and he would discuss this issue in a meeting and then it will be placed before the Executive Committee again whether to approve the liquidation of FD to pay the debts of AIFF or not.”