FIFA assets worth over $1bn 11/06/2010 |
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FIFA has announced it made a profit of $196 million in 2009 and has equity of over $1 billion thanks to growing income from the sale of television rights.
The vast majority of revenue was brought in by television which netted FIFA $650 million, while marketing accounted for $277 million to leave the governing body with a equity basis of $1,061 million
"While equity of over a billion dollars seems high, it is necessary as the financial risks exceed it many times over," said Franco Carraro, chairman of the internal audit committee.
"The figure is only enough to cover the next year and a half."
FIFA also revealed that revenue for the period 2007-10 was 12 times greater than for the period 1995-98, an increase from $257 million to $3,200 million.
In addition, FIFA president Sepp Blatter announced that spending on the development programmes across the globe had grown from $14m for 1995-98 to $691 million for 2007-10.
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