Sepp Blatter and the lads are sitting on a nice little rainy-day fund.
FIFA earned €1.85 billion last year, with the World Cup’s commercial power helping football’s world governing body register a record year for financial revenue.
The organisation also declared €311 million in profits in the four-year period leading up the 2014 World Cup, and €130.3 last year alone. While they’ve earned €5.28 billion between 2010 and 2014, with most of FIFA’s cash comes from the sale of broadcasting rights and marketing deals.
The organisations expenses have also rose considerably in the past four years, costing €4.97 billion in the past four years and €1.81 billion last year alone.
FIFA president Sepp Blatter’s salary or bonus isn’t included in the accounts.
The organisation are currently sitting on €1.4 billion in cash reserves, despite claiming they are a non-profit organisation.
According to a document FIFA released last year, titled ‘Setting the record straight‘, world football’s governing body: ‘…is an association of associations with a non-commercial, not for profit purpose that uses significant funds in the pursuit of its statutory objectives’.
So, why are they sitting on a big pile of cash? Instead of using the revenue ‘in pursuit of its statutory objectives’?
Hat-tip Irish Times.
