- Under the chairmanship of President Joseph S. Blatter, the FIFA Executive Committee met in Zurich today for an Extraordinary Meeting during which the majority of the 25 questions posed by UEFA President and FIFA Vice-President Lennart Johansson were answered. The FIFA President will respond to the remaining questions in writing by the end of this week.

The FIFA President and FIFA General Secretary Michel Zen-Ruffinen jointly presented a detailed report of the legal and financial aspects relating to the adjudication of bankruptcy against the ISMM/ISL Group. The Committee acknowledged that the FIFA President and the administration had undertaken all necessary steps to protect FIFA's interests.

The Committee received information from the Finance Committee meeting held yesterday under the chairmanship of FIFA Vice-President Julio Grondona. The members were relieved to be informed of FIFA's very stable financial situation. The Committee noted that the possible loss for the 1999 - 2002 period following the bankruptcy of ISMM would be compensated in the period 2002 - 2006 as FIFA was now able to exploit its own marketing rights and benefit from the potential of the market.

As regards the definition of the working relationship between FIFA and FIFA Marketing AG, the Committee backed the suggestion from the FIFA President that a draft contract between FIFA and FIFA Marketing AG as the service company for FIFA be presented at the next meeting in Buenos Aires on 5 July.

The 2001 budget for FIFA Marketing AG and the budget for its operational costs for the FIFA World Cup 2002 ™ were both approved at the meeting.

Furthermore:

• The Executive Committee ratified the decision of the Emergency Committee on 18 April to postpone the FIFA Club World Championship from 2001 to 2003. A final decision on financial matters will be taken at the next meeting in Buenos Aires on 5 July.
• The Committee received a positive report on the FIFA Confederations Cup Korea/Japan 2001 from the Chairman of the Organising Committee for the event, FIFA Vice President Issa Hayatou.
• The General Secretary reported on the status of the revised FIFA transfer system after the meeting of the Players' Status Committee yesterday. The new regulations and the Regulations governing the Application will be submitted for approval to the Executive Committee at its next meeting.
• Additional points, including the issue of safety in stadia, were approved for the agenda of the Extraordinary Congress on 6/7 July in Buenos Aires.
• The Committee reiterated that sanctions for positive doping tests must be applied worldwide and for all competitions.
• It was confirmed that the FIFA Youth World Championship 2003 would be held in the United Arab Emirates.

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