Thu, 28 Oct, 2021
Kuala Lumpur: The Asian Football Confederation's (AFC) Commercial Rights tender process, which delivered a record contract, has been praised for its integrity and transparency.
The AFC agreed to accept a partnership offer from DDMC Fortis that not only will provide a unique opportunity to grow the game but also demonstrates the growing value of the AFC's national and club competitions and helps secure the financial future of the Member Associations as well as the AFC itself.
Chair of the AFC's Governance Task Force, HRH Prince Abdullah Ibni Sultan Ahmad Shah, said: “The AFC has put good governance and integrity at the heart of its Vision and Mission and as such, the Commercial Rights tender lived up to those high standards.
“From the start of the process, we stressed the need for transparency, integrity and confidentiality and delivering this was integral to the success of the tender.”
The values of good governance, integrity and optimising commercial value are cornerstones of the AFC's Vision and Mission. The Mission statement sets the objectives of delivering tailor-made support to the Member Associations, staging top-level competitions, providing support for Asian teams to succeed on the world stage, as well as football for social development.
Mariano V. Araneta Jr, the AFC Finance Committee Chairperson, added: "With the high level of good governance and integrity, which has been recognised by all the bidders, we have been able to optimise the commercial value. By increasing the AFC's commercial revenue to record levels, the Member Associations, and in turn, the game in Asia can continue to develop and grow.
“Providing financial security for the game was crucial for the next rights cycle and now the AFC can continue to support Member Associations as well as further enhance the already much admired competitions which have flourished in the last five years to the stage where next year we will stage the biggest and best ever Asian Cup with prize money for all the teams.”