Sunday, February 7, 2010

FIFA Expects Moderate Loss in South Africa

FIFA is expecting to take a moderate loss from this year's World Cup, according to officials. The loses are estimated at "a few thousand dollars" according to officials, a stark contrast with the $277 million profit the international football association earned from the 2006 World Cup in Germany.

But that is a much happier picture than the one Fifa painted eight months ago, when releasing its accounts for the 12 months to the end of 2008. To guard against financial risks, Fifa has been hoarding cash since the 2002 World Cup and by January 2009 it had exceeded its £500m equity target by £63m.

Fifa braced for losses from South Africa's hosting of 2010 World Cup
January 29, 2010