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Heart of Oak spokesman Ernest Thompson
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Friday, 18 May, 2001, 16:55 GMT 17:55 UK
World Club Championship axed
Fifa president Sepp Blatter
Fifa's Sepp Blatter will be upset at the postponement
Fifa has postponed this summer's World Club Championship, due to start in Spain at the end of July, until 2003.

Financial problems and a congested fixture list have made the competition not viable this year, according to football's ruling body.

Sixteen teams were set to compete in just its second edition, the first having taken place in Brazil in January 2000.

The economic crises affecting the countries of some of the participating clubs further heighten existing commercial difficulties
  Fifa statement

"The decision not to go ahead with this event as scheduled has been taken on account of various factors," said Fifa's president Sepp Blatter.

"The period during which the competition was to be staged is particularly inconvenient from the perspective of national and international fixtures," a Fifa statement added.

"The economic crises affecting the countries of some of the participating clubs further heighten existing commercial difficulties."


The third hurdle was linked to the financial problems of ISL Worldwide, which was responsible for marketing major Fifa tournaments including the World Cup in 2002.

Fifa said on Thursday it had terminated its marketing agreement with ISL Worldwide after French media group Vivendi ended talks on a takeover of ISL's troubled parent company ISMM.

Fifa said it had discussed the matter with the tournament's would-be hosts, the Spanish Football Federation.

The event was due to take place from 28 July to 12 August.

Clubs taking part include Argentina's Boca Juniors, Palmeiras of Brazil and Saudi Arabia's Al-Hilal.

Prize money totals $40m with the winners taking home $8m.

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17 May 01 |  Scotland
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