News24

SWC 'a huge financial success'

2011-03-03 19:50

London - FIFA President Sepp Blatter on Thursday hailed Africa's first World Cup in 2010 as a financial success, after it pushed the governing body's four-year revenues above $4bn for the first time.

Blatter claimed it vindicated the choice of South Africa despite fears that the decision to bring football's biggest tournament to the continent was a financial risk.

"I am the happiest man to announce that the World Cup in South Africa was a huge, huge financial success for everybody, for Africa for South Africa, for FIFA," he told journalists after an executive committee meeting.

"For the first time in FIFA's four-year accounts we are over $4bn."

FIFA, a non-profit association under Swiss law, earned $4.189bn in its 2007 - 2010 financial period, with a surplus of $631m, deputy secretary general and finance chief Markus Kattner said.

Eighty-seven percent of total revenues - $3.655bn - over the period were related to the 2010 World Cup.

Traditionally the bulk of earnings are down to deals on broadcasting rights worldwide and marketing or sponsorship contracts.

"The sale of television and marketing rights was more successful than expected," Kattner underlined.

Last year alone revenues reached $1.29bn with a surplus of $202m.

Although the surplus is redistributed among footballing nations, over the past four years FIFA has nearly doubled its cash reserves to $1.28bn.

SuperSport

Comments
  • georgp2 - 2011-03-03 20:31

    The irony the tax payers in SA are the white racists. All that is left is this monster stadiums good for nothing to maintain build with with tax money and the profit left the country

      Greg - 2011-03-04 13:23

      There are many sources of tax for SARS - corporate, individual, VAT come to mind. The biggest source of tax is VAT, followed by corporate tax. Individual tax is negligible. Everyone pays tax in South Africa as long as they buy goods - through VAT. Therefore your point is just meant to stir up nonsense.

  • rodneykdc - 2011-03-03 20:33

    "A HUGE HUGE FINANCIAL SUCCESS " for FIFA , I am sure , for SA , not so sure . Blatter will have to "UP" his living expenses/standards to keep FIFA in a non-profit situation , what a lovely problem to have !!!

  • Albo - 2011-03-04 09:18

    "FIFA, a non-profit association " - hahahaha

  • Popsicle - 2011-03-04 10:34

    Its sick...I feel raped and violated as a south african citizen whose hard earned money will be paying for these stadiums for the next 50 years. I loved the world cup and am so proud to have had it in South Africa, but not at this cost. I would love to know how much of this money will be ploughed back into SAFA, and in turn how much of this money will find its way into our local football leagues and youth development after the twats at SAFA get their grubby paws on it. Danny Jordaan: thanks for ensuring that the world cup was a huge financial success for FIFA, but i get the distinct feeling you and the other SAFA members and the SA government sold us down the river for a quick buck and a hopeful place on the FIFA Executive. I am grateful but really not that impressed with you, i am sure you will go far in FIFA though until they find their next pot of gold in Brazil, Russia and Qatar. Good luck and thanks for all the fish.

      Leviathan - 2011-03-04 10:55

      Plus i heard blatter the crook still owes SA money fr the SWC but how do u think russia and qatar got the WC? under the table deals

  • rimmoah - 2011-03-04 22:55

    Africa......still raped and plundered by europe even in the modern era.Blatter sits with the dosh while we sit with white elephants.

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