FIFA announces $36M profit in accounts
Published
Mar. 30, 2012 1:00 a.m. ET
foxsports
FIFA says it made a profit of $36 million on its billion-dollar income in 2011 and increased its reserves to $1.293 billion.
FIFA accounts showed it had $1.07 billion revenue and spent $1.034 billion last year.
It banked an additional $13 million in its reserve fund.
The figures cover the first year in a four-year cycle of commercial deals tied to the 2014 World Cup in Brazil.
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FIFA said the tournament earned $910 million in 2011, and $550 million was banked from broadcasting deals.
Nearly all broadcasters and sponsors are signed to two-tournament packages that began with the 2010 tournament in South Africa.
FIFA pays no income tax because of its status in Swiss law, and exemptions granted by tournament host nations.
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