News24

Jordaan reveals SWC revenues

2011-06-01 10:53

Cape Town - In an interview with the 2oceansvibe website, the CEO of South Africa’s 2010 Soccer World Cup Organising Committee, Danny Jordaan, revealed that the financial statements support the tournament’s perceived success.

Jordaan confirmed, “In today’s (Wednesday's) forthcoming AGM, the Operations Report and Financial Report will confirm that the SA World Cup shows a total revenue of $4.2 billion.”

While South Africa definitely scored from the world’s biggest sporting event, the FIFA coffers are looking pretty tidy as well, as Jordaan went on to reveal unprecedented reserves.

“FIFA reserves now show an amount of $1 billion. This is a position that FIFA has never been in before,” said Jordaan, who is also a member of FIFA’s Marketing Board.

Jordaan went on to say that there was a lot of work to be done on the African continent and wants to see what contribution he could make to African football.

The man who delivered South Africa the most successful World Cup ever, dodged questions about his candidacy for the top job and, when pressed as to whether or not he would ever put his name forward.

“That may be a question for the future, but right now I am focused on African football!” Jordaan said.
 

Sport24

Comments
  • TurboChris - 2011-06-01 11:27

    Does total revenue mean profit after cost?

      50something - 2011-06-01 12:38

      No, it is total income, you have to deduct costs, so it does not paint the whole picture.

      Anton - 2011-06-01 18:52

      According to FIFA's own press release, the 2010 SWC, was there most profitable ever. Sepp Blatter: ,, I am the happiest man to announce that the World Cup in South Africa , was a huge, huge fianancial success" Their four year revenue was 4 billion dollars ( about 28 billion Rand ! ) And of this amount, 87 percent came from the 2010 WC. Two other interesting facts: Although they say that the surplus gets redistributed among footballing nations, over the past four years FIFA has doubled their cash reserves to 1.27 BILLION DOLLARS ( Thats more than 9 billion Rand ) And secondly, which few seem to know, FIFA is as smart as Ron hubbard's Scientology Church, ITS A TAX FREE COMPANY............. And THAT brings along, that it not only does not pay any tax, nor in the host country, nor in Switserland, But does not have to keep financial records, other than for themselves, and THAT is the root of all their corruption problems ! ! And lastly, as we only talk in billions....may it be dollars or Rands, show me ANYBODY, ANY COMPANY OR ANY INDIVIDUAL, IN SOUTH AFRICA, WHO DID WELL WITH THE 2010 SWC AND I MEAN ANYBODY.....hotels, (one, two , three , four , five and six stars) BB's, camping grounds, tour bus companies, tour leaders, tourists shops, taxi drivers etc etc . Well , it will be hard to find anyone. Sepp Blatter; ,, I am the happiest man ! ! ! " Sure, you and your FIFA thugs, conned all of us .

  • Colin DBN - 2011-06-01 11:50

    Revenue is the income derived from the sale of goods, products and services sold by a company in it operations. So now I ask -- what was the total earnings of the Fifa WC2010? And did we come out with a profit?

      SA-FAN - 2011-06-01 11:55

      Well colin if they say that there reserves looks better than ever before i am sure they made a profit

      NotThatAnon - 2011-06-01 12:12

      The tournament cost about $4.9 Billion to put on. Initial estimates put our take at about one tenth of that. I would love to know where the rest of the revenue is meant to have come from. http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/8192484/South-Africa-recoups-just-a-tenth-of-the-3bn-cost-of-staging-World-Cup-2010.html

      50something - 2011-06-01 12:42

      NotThatAnon - if your figure is correct - Revenue - cost, the touranament hada R700 Mil loss?

      Albo - 2011-06-01 16:56

      @Colin - If they could also distinguish between what SA made and what FIFA made that would be interesting!!

  • SA-FAN - 2011-06-01 11:51

    No revenue is just the sales Chris

  • Tobie Roelofse - 2011-06-01 12:02

    All well to say what the total revenue was but what was the total expenditure (building of stadia;fifa's share;parties)? Only then the tax payers of this country will see if they were entertaining all the fat cats or whether they were able to cover the bill themselves. I have a feeling we will never see those figures because it was most probably a dead loss. And remember FIFA got their cut tax free!

  • Badger - 2011-06-01 12:40

    FIFA & MATCH made the biggest profit ever with the South African WC. In other words, they took us to the cleaners. I could tell you the "mark up %'s" as I am in the hotel business and know what they did. I almost lost a client due to the increases FIFA added.

  • nonduplume - 2011-06-01 12:45

    The $64k question is how much did all the crooked SAFA officials make?

  • Flinger - 2011-06-01 12:46

    So fifa's billion is pure profit though...there was almost no cost to them, the stadia were for our cost, the infrastructure was ours, the terrible ticket purchase system was ours, Ria Via was ours, their hotels and air tickets as well as the touring teams hotels and air tickets were for our account....so we got $4,2 billion revenue...what were the costs? Did we profit or is that sitting in Fifa's slush account? Can we make a claim now that we see that we (as the world champs at corruption) were beaten by our own game?

  • Makabongwe Tyiwani - 2011-06-01 13:03

    Focusing on African football is the next logical step.

  • HagenDan - 2011-06-01 13:13

    Interested to know how much of that has directly gone to SA. However it doesn't tell the whole story, and as fun as it might be (in true South African fashion) to whinge about this event bankrupting us, the future tourism and foreign direct investment after the event is difficult to measure but will no doubt be very high. Especially considering that statistically most visitors to South Africa return for another visit, positive word-of-mouth, etc. South Africa's stature as a place to visit and invest in has been increased dramatically (bear in mind most of the world thinks Africa = flies crawling out of kids noses and lions roaming the streets). There's a reason countries bid so strongly for the right to host the world cup. Or do you think they do it just to spite their country?

      Albo - 2011-06-01 17:03

      I definately agree with you but we (as the tax payer who funded all of this) deserve to know the true costs involved don`t you agree?

      HagenDan - 2011-06-01 18:30

      We definitely do. Isn't that information available though? It should be disclosed...

      Anton - 2011-06-01 20:28

      Why would foreign direct investment be very high ?? Because we can built nice soccer stadiums and get soccer fans in time to the stadium for a WC match ?? Because we can throw a good party, some one is going to invest millions in South Africa ?? I just don't understand where the connection is ! And the soccer fans who came here, they are now planning their next long distance trip....Brazil , in 2014 !

  • silverflash - 2011-06-01 15:20

    u guys need to look at the whole picture,and not only from a ignorant point of view if you have properly looked at the worldcup reports you will see the great benefit to sa. Please use google for educational purposes in this regard.

  • Aubriano - 2011-06-02 11:26

    no money can buy the current SA's exposure to international world and the world cup was purely for that. We benefited and still for our generations to come, SA is & will be known as a rainbow country.Imagine the positive comments people say about SA (those who were here for the 2010 w/c).This all is not equivalent to any figure u can think of.

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