Former Football Coach Igor Stimac To Receive Rs 3.6 Crore From AIFF In Compensation: Report
(MENAFN- AsiaNet News) Igor Stimac and the All India football Federation (AIFF) have finalized a settlement, with the former men's national team head coach set to receive USD 400,000 (approximately Rs 3.36 crore) post-tax as compensation for his termination.
Stimac was dismissed by the AIFF in June, a year before his contract was due to end, following the team's elimination from the second round of FIFA World Cup Qualifiers, despite a favorable draw.
Tensions escalated after the sacking, with Stimac threatening legal action if his dues weren't cleared within 10 days. However, both sides have now amicably resolved the matter.
"The AIFF top brass has approved payment of USD 400,000 as compensation to settle the issue with AIFF," a source privy to the development was quoted as saying in a PTI report on Sunday.
The compensation deal with Igor Stimac comes as a significant financial strain for the All India Football Federation (AIFF), which has recently faced funding challenges and cut its competitions budget for the year.
Initially, the AIFF had offered Stimac three months' salary after his dismissal, but the former head coach rejected the offer and filed a claim with FIFA, seeking USD 920,000 (approximately Rs 7.72 crore) as two years' salary from India's football governing body.
Stimac, who took charge of the team in 2019, was granted a contract extension last October, which was set to last until 2026. However, the extension came with a condition: he would continue only if the team reached the quarterfinals of the Asian Cup, a milestone India has never achieved. In both the 2011 and 2015 editions of the tournament, India finished last in their group.
Following Stimac's departure, Manolo Marquez has been appointed as the new head coach of the Indian men's national team. Stimac had previously turned down settlement offers from the AIFF, first for five months' salary and then for ten.
MENAFN08092024007385015968ID1108649194
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.