FIFA profit from World Cup in South Africa
Fri 4th Mar 2011 | FIFA
FIFA, world football’s governing body made a profit of around USD 613m for the four-year period 2007-2010.
The announcement of the profit was made during a two-day meeting held in Zurich on 2 and 3 March, in which they revealed total revenues of USD 4,189 million, with expenses amounting to USD 3,558 million, leading to an overall result of USD 631 million.
The financial result from this period has also helped to strengthen FIFA’s reserves (now amounting to USD 1,280 million), which is required by the FIFA Statutes and is also important in view of FIFA’s strong financial dependency on the FIFA World Cup™.
A statement on FIFA.com read; “This very positive result reflects the financial success of the 2010 FIFA World Cup™ in South Africa, which has allowed FIFA to continue with its development programmes and the organisation of football competitions and events.
The results showed that 87% of its USD 4.189 million turnover was generated by the 2010 World Cup in South Africa and that profits have grown steadily from USD 49 million in 2007 to USD 202 million in 2010.
“FIFA is financially strong and dependent on the World Cup,” said director of finance Markus Kattner. “This illustrates the necessity for FIFA to build up and have sufficient reserves to decrease its dependency on the World Cup.”
SUBSCRIBE TO THE F.C. BUSINESS RSS FEED
If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk
Google
Yahoo
Live
del.icio
DiggRelated Articles
FIFA and MATCH Hospitality extend agreement until 2023
Tue 1st Nov 2011 | FIFA
FIFA have today announced an extension to the appointment of MATCH Hospitality as the exclusive hospitality rights holder for the 2018 and the 2022 FIFA World Cups™. Following an industry...
Blatter Believes FA are out to destroy FIFA
Tue 30th Aug 2011 | FIFA
FIFA president Blatter believes the FA have failed to accept the ousting of Sir Stanley Rous as the organisation's head in 1974. The Football Association failed in their call for a delay to the FIFA...
Karl-Heinz Rummenigge joins in calls for FIFA reforms
Thu 2nd Jun 2011 | FIFA
FIFA president, Sepp Blattere’s re-election yesterday came as no surprise, but European Club Association (ECA) chairman Karl-Heinz Rummenigge has called for a drastic change of FIFA’s...
Scottish FA joins in calls for delay in FIFA presidential election
Tue 31st May 2011 | FIFA
The Scottish FA have joined in the calls for FIFA to postpone the presidential elections due to take place tomorrow (Wednesday). In a statement released earlier today, Scottish FA chief executive...
