Thursday, June 4, 2009

Whoa! FIFA nets $184M profit in 2008

FIFA and economic recession? I think not ...

FIFA said Wednesday that it turned a $184 million profit in 2008, remaining 13 percent under its own budget and not losing any money on assets during the year. FIFA collected $957 million in revenue, mostly off television and marketing deals struck for the 2010 World Cup.


FIFA had $773 million in expenses, avoiding what deputy secretary general Markus Kattner called "extraordinary legal costs" such as the $90 million payout that credit card giant MasterCard was owed the previous year in a settlement regarding sponsorship of the 2010 and 2014 World Cups.

FIFA has about $1.6 billion in assets.

Later Wednesday, members of FIFA's Congress overwhelmingly approved the organization's 2010 budget, which includes about $1.1 billion in expenses, more than half related to operational costs for the World Cup in South Africa.

MY POV: FIFA is a cash cow. How do I get in on that action?

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