Governing Bodies
Swiss bank Julius Baer to pay US$80 million to end FIFA laundering probe
Julius Baer Group Ltd will pay almost US$80 million (S$106 million) to resolve a US probe of its role in the payment of tens of millions of dollars in bribes to leaders of Fifa, the governing body for world football.
The United States charged the Swiss private bank with a money-laundering conspiracy and will drop the case in three years as part of a deferred-prosecution agreement, if the bank meets certain conditions. Federal prosecutors and the bank’s general counsel appeared in a video conference on Thursday (May 27) before US District Judge Pamela Chen in Brooklyn, New York.
Julius Baer will pay a fine of US$43.3 million and forfeit US$36.4 million. The bank said in November it had set aside US$79.7 million to resolve the case. It has cooperated with US authorities since 2015 in a corruption investigation involving officials and affiliates of Fifa and associated sports media and marketing firms.
The bank “agreed with sports marketing executives and football officials to launder at least US$36,368,400 in bribe payments through the United States in furtherance of a scheme in which sports marketing companies bribed football officials in exchange for broadcasting rights to football matches,” according to a statement of facts that Julius Baer admitted.
The bank declined to comment on the agreement.
Massive crackdown
The pact is part of a massive US crackdown on corruption in Fifa that led to at least 26 guilty pleas as well as deferred- or non-prosecution agreements involving several sports marketing and athletic apparel corporations.
A former Julius Baer banker, Jorge Arzuaga, was sentenced in November to three years of probation for facilitating the payment of bribes to the presidents of the Argentine Football Federation and the South American Football Confederation. He cooperated with investigators.
While the bank contacted prosecutors shortly after the US made its first Fifa arrests in May 2015, it failed to “come forward with all evidence pertaining to the involvement of senior management,” according to court papers. That conduct involved two senior managers, including one executive board member. Neither manager was named.
Since then, the bank has made a “significant effort to remediate its historically deficient compliance programme,” spending US$112 million on a three-year programme to bolster its anti-money laundering controls, the papers said.
The bank has faced other scandals in recent years.
In 2018, former banker Matthias Krull was sentenced to 10 years in prison for his role in a plot to launder US$1.2 billion stolen from Venezuela’s state-owned oil producer, Petroleos de Venezuela SA.
In 2016, the bank paid US$547 million and signed a deferred-prosecution agreement after admitting it helped thousands of Americans conceal billions of dollars in assets from the US Internal Revenue Service. Two bankers pleaded guilty.
And in March, Julius Baer announced that Swiss regulator Finma was lifting a ban on complex acquisitions it imposed on the bank in February 2020 over its inadequate money-laundering controls.
–BLOOMBERG
The National Institute for Sports (NIS) has announced plans to establish its South-West Zonal Office in Ogun State, citing the state’s outstanding commitment to sports development and youth empowerment.
The Director General of the institute, Philip Shaibu, made this known during a courtesy visit to Governor Dapo Abiodun at the Governor’s Office in Abeokuta, where both parties held what was described as a highly productive discussion on strengthening sports education and development across the region.
Shaibu disclosed that the decision was formalised in a letter to the governor dated October 10, 2025, in which the NIS outlined its ongoing institutional reforms under President Bola Tinubu’s Renewed Hope Agenda.
These reforms, he said, include the digitisation of training systems, expansion of coaching certification programmes, and the establishment of sports science laboratories to enhance research and professional development.
He added that Ogun State’s strategic investment in youth and sports infrastructure, coupled with its historical role as the “Gateway to Nigeria,” made it a natural choice for hosting the zonal office that will serve the entire South-West region.
In his response, Governor Abiodun expressed delight at the development, describing it as a significant milestone in his administration’s efforts to promote grassroots sports and talent discovery.
“This decision aligns perfectly with our vision to make Ogun State a leading hub for sports excellence,” the governor said. “We are fully committed to supporting the National Institute for Sports in ensuring the successful take-off and operation of this zonal office.”
Governor Abiodun also reaffirmed this commitment in a post on his X (formerly Twitter) handle, noting that the siting of the NIS Zonal Office in Abeokuta underscores Ogun State’s strategic importance in sports development and youth empowerment within the South-West geo-political zone.
He added: “We assure the NIS leadership of our government’s full cooperation and support toward the successful take-off of this zonal office. This initiative aligns with our vision to promote grassroots sports, talent development, and youth engagement. We look forward to a strong and enduring partnership with the National Institute for Sports as we continue to make Ogun State a true Gateway to sporting excellence and opportunities.”
The establishment of the NIS South-West Zonal Office is expected to further decentralise sports administration, enhance capacity building for coaches and athletes, and strengthen collaboration between the institute and state governments in the region.
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The FIFA Museum in Zurich has launched a new special exhibition titled Innovation in Action: Football Technologies on and off the Pitch, offering visitors an unprecedented glimpse into how innovation is transforming the world’s most popular sport.
Opened on Monday, October 1, 2025, the immersive showcase was developed in collaboration with the FIFA Innovation Team and other departments within world football’s governing body. It explores how cutting-edge technology supports players, referees, and fans—enhancing performance, ensuring fairness, and enriching the overall football experience—while preserving the game’s passion and human spirit.
“What makes this exhibition truly special is that we can give visitors a never-before-seen behind-the-scenes look that allows them to step inside football innovation, experiencing it hands-on rather than just reading about it,” said Marco Fazzone, Managing Director of the FIFA Museum. “We offer a glimpse at technologies and tools that fans don’t normally get to experience up close, while also showing how innovation has evolved over almost 100 years of FIFA World Cup history.”
Organised around five themed sections — Broadcasting & Media, Intelligent Data, Refereeing & Fair Play, Staging the Game, and the Innovation Lab — the exhibition blends rare artefacts with interactive displays. Visitors can relive football’s broadcast evolution, from the black-and-white footage of the 1954 World Cup to today’s ultra-slow motion 4K replays, and even step into a virtual referee booth to experience the pressures of officiating in real time.
Among the standout features is the FIFA Player App, which allows fans to explore Chelsea star Cole Palmer’s performance statistics from the FIFA Club World Cup 2025 Final, illustrating how data helps players refine their craft.
Another exhibit showcases Canada goalkeeper Kailen Sheridan’s water bottle from the FIFA Women’s World Cup 2023 — marked with opponents’ penalty data — revealing how analytics influence critical moments.
Visitors can also view a referee body camera used at the FIFA Club World Cup 2025, giving a fresh perspective on decision-making from the official’s point of view.
The exhibition invites visitors to engage directly with football technology. They can test their reflexes and judgment as referees, operate goal-line technology systems, or assume the role of a broadcast director managing live match feeds. Data enthusiasts can analyse player movements, while aspiring innovators can design their own football tech concepts inside the Innovation Lab.
Innovation in Action runs until 31 March 2026 at the FIFA Museum in Zurich. Entry is included with a standard museum ticket.
With its rich mix of storytelling, interactivity, and history, the exhibition promises to be a must-see experience for anyone passionate about the future of the beautiful game.
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FIFA President Gianni Infantino said on Thursday that football could not solve conflicts, but it must carry a message of peace and unity as Israel’s military operation in Gaza and other global tensions fuel calls for the sport to take a stand.
“At FIFA, we are committed to using the power of football to bring people together in a divided world,” Infantino told a FIFA Council meeting in Zurich where he met Palestinian federation president Jibril Rajoub.
“Our thoughts are with those who are suffering in the many conflicts that exist around the world today, and the most important message that football can convey right now is one of peace and unity.”
Infantino said world football’s governing body could not solve geopolitical crises, but “it can and must promote football around the world by harnessing its unifying, educational, cultural and humanitarian values.”
“I met Palestinian Football Association (PFA) President Jibril Rajoub today at the Home of FIFA in Zurich to discuss the ongoing situation in the Middle East region,” Infantino later wrote on Instagram.
“I commend President Rajoub and the PFA for their resilience at this time and I reiterated to him FIFA’s commitment to using the power of football to bring people together in a divided world.”
FIFA has faced repeated calls to act over the war in Gaza, with Palestinian officials pressing for Israel to be suspended from international football.
The issue has been under review by FIFA for months, but no decision has been taken. Infantino has consistently said such matters require consensus with the confederations and must be handled with caution.
The comments came a day after FIFA Vice President Victor Montagliani noted that any decision over Israel’s participation in European competitions, including World Cup qualifiers, was a matter for UEFA to decide, effectively putting the onus on the European body.
“First and foremost, it (Israel) is a member of UEFA, no different than I have to deal with a member of my region for whatever reason… They have to deal with that,” Montagliani told reporters at the Leaders sports business conference on Wednesday.
Israel are third in Europe’s Group I of the qualifying stage for next year’s World Cup in the U.S., Canada and Mexico. Amnesty International on Wednesday sent a letter to FIFA and UEFA calling on them to suspend the Israel Football Association.
-Reuters
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