Recession doesn't harm FIFA

Nyon - FIFA says it made a profit of €135 million in 2008 and wasn't damaged in the global financial crisis. FIFA's annual financial report says it had an income of €703 last year. A total of 94 per cent was generated by television, marketing and sponsorship money raised from events such as the World Cup.

Football's world governing body said on Friday it even made a profit of €11.8 million in managing its assets.

The organisation's equity now stands at $902 million (€662 million).

It was boosted by a successful policy of hedging foreign currency, the report said.