FIFA reports $36 million profit in 2011

PanARMENIAN.Net - Boosted by the World Cup's enduring appeal, FIFA reported a profit of $36 million on Friday, March 30 from its billion-dollar income in 2011 and increased its reserves to $1.293 billion.

FIFA accounts showed it had $1.07 billion revenue and spent $1.034 billion last year, allowing football's world governing body to save an additional $13 million in its reserve fund.

"I am delighted to note that, financially, FIFA stands on rock-solid foundations," FIFA President Sepp Blatter wrote in the financial report. Blatter, and other FIFA leaders and executives who were not identified, shared in bonus payments totalling $29.5 million.

The figures cover the first year in a four-year cycle of commercial deals tied to the 2014 World Cup in Brazil.

FIFA said the tournament earned $910 million in 2011, and $550 million was banked from broadcasting deals, The Associated Press reported.