Jockey Club's HK$100 million funding 'will help develop Hong Kong football'
The Jockey Club is set to inject HK$100 million as part of the FA's new five-year plan, but professional clubs won't get a slice of the pie
Local soccer is about to receive a hefty cash injection to help implement the Hong Kong Football Association's new five-year strategic plan - but professional clubs will be left disappointed as little of the money will flow their way.
Following the introduction of the plan this year, which is aimed at "transforming soccer in Hong Kong through a systemic and integrated strategic plan", the association and Hong Kong Jockey Club, a close partner, are working out a new funding scheme, which will result in an allocation of up to HK$100 million to the governing body in the coming five years.
The new strategic plan clearly outlines there is much work that needs to be done, but also states they can't complete the task without additional funding - and this is where the Jockey Club funding kicks in
"The Jockey Club is always willing to help soccer as the sport can contribute to society positively, also because it is the most popular sport in Hong Kong in terms of spectators and the number of players being involved," said a source close to the Football Association.
"The new strategic plan clearly outlines there is much work that needs to be done, but also states they can't complete the task without additional funding - and this is where the Jockey Club funding kicks in."
The plan says "additional funding will be required if the HKFA is to implement the strategic recommendations".
"Without that money the outcomes will be diluted because it will be inevitable that priorities will need to be set. Failure to generate extra funding will mean that certain 'game changes' will not be fully implemented," the plan says.
The Jockey Club money will come on top of the government's funding of HK$25 million a year - an extension of Project Phoenix for the coming five years - plus the Leisure and Cultural Services Department's annual grant of HK$14 million. It will make the HKFA the richest sports association in Hong Kong, with annual funding close to HK$60 million.