FIFA announces financial loss for 2015

By iSportconnect | March 18, 2016

FIFA have announced a financial loss of $122 million in 2015.

In comparison to the first year of the previous cycle (2011-2014), pilule revenue increased by $82 million to $1,152 million.

FIFA’s Financial and Governance Report published for the first time since 2002 also shows expenditure compared to 2011 increased by $240 million to $1,274 million due to an increased budget for development expenses and higher competition costs, but also due to unforeseen costs such as legal fees and costs for extraordinary meetings.

President Gianni Infantino said: “With the recently approved reforms, I believe that we have turned a corner and that FIFA is poised to emerge stronger than ever.”

“During my presidency, I pledge to make this happen and to lead FIFA into a brighter and more sustainable future so that we can all return our full focus to football.

“We saw in 2015 that FIFA’s competitions – such as the FIFA Women’s World Cup – remain an incredible opportunity for us to promote the game and to raise the funds we need to fulfil our core mission of football development.”

A revised budget for the 2015-2018 cycle has been approved by the FIFA Executive Committee and will be put forward for ratification to the FIFA Congress in Mexico City (12-13 May 2016).

This revised budget has been compiled to invest even more funds into developing football around the world.

{jcomments on}