FIFA survives corruption; cash reserves, revenues increase: Report

FIFA,Gianni Infantino,FIFA 2014 World Cup,FIFA World Cup,FIFA Revenue
Advertisement

The world governing body for football FIFA has recorded an increase in reserves and revenues in spite of battling with corruption.

The FIFA supremo Gianni Infantino had pronounced the organization “clinically dead”, when he took reigns of the football’s world governing body in 2016. His predecessor was shown the door and FIFA was marred by corruption.

Infantino did not just infused a new life in global football but also ensured a better growth for it during the 2015-2018 four-year cycle. A report by international news agency Associated Press suggests that FIFA’s cash reserved have reached a record $ 2.74 billion and the revenue during the period is recorded at unprecedented $ 6.4 billion. The figures in the previous cycle that also included the FIFA 2014 World Cup Finals in Brazil stood at $1.523 billion and $5.718 billion respectively.

The financial performance has exceeded forecasts presented at the FIFA Congress in June 2018.

Also Read: Four nations confirmed for inaugural FIFA eNations Cup 2019

FIFA had survived the deepest corruption charges in the sport’s history in 2015 when the criminal investigations have led to arrests and conviction of some top-level officials. The turmoil had led to apathy from sponsors and other commercial associates.

The news agency has published the figures with reference to an anonymous source as the financial details, in general, are not released to public or media.

The person behind FIFA’s resurgence, Infantino too has cost the body far less than his predecessor Sepp Blatter. The report suggests that Infantino has earned a salary of $1.9 million and a bonus of $550,000 in 2018. In 2017, he earned US$1.61 million without a bonus.

Blatter’s basic salary in 2015 stood at $3 million while he also pocketed $11 million contractual bonus for the 2010 World Cup and $12 million for the 2014 edition. His contract also included a $12 million performance bonus, which he could not realise for being fired before completing his presidential term, which otherwise would have ended this year.

The results will come as a shot in the arm for Infantino, who goes to elections in June for a second four-year term amidst opposition from the European governing body for football – UEFA.

Also Read: FIFA World Cup 2018: Russia spent ₹75,000 crore on organization


LEAVE A REPLY