Crisis-ridden FIFA reports first losses in 13 years

GENEVA, March 17 (KUNA) — The International Federation of Football Associations (FIFA) has reported the first losses in 13 years driven by the unprecedented events it faced in 2015.
“For the first time since 2002, FIFA posted a negative result of USD 122 million in 2015,” reads the organization’s financial and governance report of 2015, which was published Thursday.
In comparison to the first year of the previous cycle (2011-14), revenue increased by USD 82 million to USD 1.152 billion, mostly attributable to the steady sales of broadcasting rights for FIFA competitions.
The world football governing body, however, noted that the expenditure compared to 2011 also increased by USD 240 million to USD 1.274 billion due to an increased budget for development expenses and higher competition costs, but also due to unforeseen costs such as legal fees and costs for extraordinary meetings.
Despite this negative result in 2015, FIFA maintains a positive outlook for the future.
“With the recently approved reforms, I believe that we have turned a corner and that FIFA is poised to emerge stronger than ever,” said President Gianni Infantino.
“During my presidency, I pledge to make this happen and to lead FIFA into a brighter and more sustainable future so that we can all return our full focus to football. We saw in 2015 that FIFA’s competitions – such as the FIFA Women’s World Cup – remain an incredible opportunity for us to promote the game and to raise the funds we need to fulfil our core mission of football development.” (end) ta.ibi