The AIFF has to submit its bid by August 25 after which the FIFA executive committee will select the host in September 2014.

But raising such a huge sum of money has become a "challenge" for AIFF.

"Obviously it is a challenge for us to find sponsors for such a huge sum but we are confident of meeting the FIFA guarantees," AIFF secretary general Kushal Das said.

The Club World Cup is seen as a test event for the 2017 FIFA Under-17 World Cup which India is hosting.

Meanwhile, Das also said that FIFA had asked all the 33 member associations of AIFF, including Indian Football Association (IFA), to amend their constitution in accordance with that of the world body.

(Agencies)

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