National News

SA gets $80m FIFA guarantee

2010-06-10 19:51
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Johannesburg - FIFA has given local organisers of the 2010 World Cup a profit guarantee of $80m no matter how the tournament does financially, sources say.

Speaking on the sidelines of the 60th FIFA congress on Thursday, the sources said the decision on the guarantee had been made at a meeting of the FIFA executive committee at the beginning of the week in the South African city.

FIFA executive committee members include former German football star Franz Beckenbauer, now a vice-president of the German Football Association (DFB).

FIFA expects the 2010 World Cup to generate a profit reaching at least the three-figure million mark.

In its annual financial report, published in March, FIFA said it had made a profit of $196m in 2009 and amassed $1.061bn in reserves.

 

Your Comments

Pedro Depacas6/28/2010 3:19 PM
What a joke !! This is rich coming from a man who insists he will be standing for another term as president , and has the audaciousness to voice his concerns involving the possible costs for implementing video technology ??? The man is surely going senile , $ 1 BILLION in spare change and uses this as another excuse not to implement technology to save the beautiful game ??I wonder what his salary might be? , this alone i'm sure would foot the bill for the so deperately needed technology .Blatter your time is up ...GET OUT !!! You are a disgrace to the football world and you have blatantly ripped off Africa .now move you despicable excuse for a human being and take your so called executive with you , you have done enough damage .!! Voetsek !!!
Andre K6/11/2010 10:26 PM
Come on guys, it is 80 million dollars, thats a substantial amount. Just stop critisizing and enjoy the ride
Andre K6/11/2010 10:26 PM
Come on guys, it is 80 million dollars, thats a substantial amount. Just stop critisizing and enjoy the ride
Collitjies6/11/2010 9:48 AM
So the billions paid for new stadia is already showing a profit. By the way in whose pocket ?
Socrates6/11/2010 9:11 AM
Gross profit = volume + margin Net profit = Gross Profit - expenses Which profit are we talking about? Thats the question!!
Seabass6/11/2010 9:09 AM
Thats about how much the RAF has to pay that person for his injuries. To one person............ CRAZY!!!!
Ben6/11/2010 8:47 AM
bloody agents.
Linda6/10/2010 11:55 PM
Great game
RB6/10/2010 9:38 PM
That is a $80M profit for the Local Organising Committee (meant to come from ticket sales), not the profit for the SWC as a whole.
@HH6/10/2010 9:17 PM
By PROFIT i assume its after costs no?
Bin Ladin6/10/2010 9:16 PM
dont joke bleddie blaata
dereksmethurst6/10/2010 8:51 PM
FIFA will earn a minimum of 3.5 billion - SA get 80 million - out with Blatter as President - the next time all you African nations get ready to vote for who the President of FIFA will be - remember this
Selan6/10/2010 8:37 PM
Suck it up SA. We asked for it!
SpongebobSquarepants6/10/2010 8:33 PM
Absolutely disgraceful, they should donate another $80million for the development of three bedroomed RDP houses.
Mugaybee6/10/2010 8:25 PM
Whose pockets will that money be in? Totally wrong government spending priorities. Just as Greece is now paying the price for hosting the Olympic games, so will SA suffer a massive hangover. Expect more civil unrest.
Jane6/10/2010 8:21 PM
Blatter should hang his head in shame. After depriving small businesses and traders of the right to profift from this event due to the ridiculous FIFA regulations - I think $800m. would be more appropriate after the billions FIFA will make. Shame, Fifa, Shame. After investing $7 billion - SA gets a 1% return?
HH6/10/2010 8:03 PM
$80 million! What an insult. We spent BILLIONS of tax payer money building stadiums.
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