FIFA announces $2 billion revenue for 2014

By Brian Homewood
Journalists are reflected in a logo at the FIFA headquarters after a meeting of the executive committee in Zurich, in a file photo. REUTERS/Arnd Wiegmann

By Brian Homewood ZURICH (Reuters) - FIFA raked in more than $2 billion in revenue in 2014 while its rainy day cash reserves rose to $1.523 billion, soccer's governing body said in its annual financial report on Friday. Meanwhile, revenue for the 2011-2014 cycle, which included the Brazil World Cup, was $5.718 billion while expenditure also rose to $5.380 billion, leaving a surplus of $338 million. FIFA said that during that period it reinvested $1.052 billion in the development of football around the world, constituting 20 percent of its expenditure over the period. "Thanks to the success of the World Cup, FIFA was able to spend more than ever on football development all around the world, with more than $1 billion invested in a variety of projects in its 209 member associations and the six confederations," said FIFA. The bulk of FIFA's expenses, 52 percent ($2.817 billion), were event-related, with the cost of staging the Brazil World Cup accounting for $2.224 billion. The report said that operating costs over the four-year period were $861 million, including $397 million on personnel. It said that during 2014, its average number of staff was 474. It paid $75 million in taxes and duties and $145 million was spent on "other" operating expenses which included travel and logistics. Football governance ate up four percent of expenses with $131 million spent on "committees and congresses" and 101 million on legal matters. The report also revealed FIFA's dependence on the four-yearly World Cup, which was responsible for generating $4.826 billion of its revenue over the four years, more than 80 percent. FIFA has resisted pressure to reveal the salaries of president Sepp Blatter and its senior officials and, as before, these were not published. Blatter is standing for re-election in May where his fate is in the hands of the 209 member associations, who hold one vote each. Dutch FA president Michael van Praag, former Portugal forward Luis Figo and Prince Ali Bin Al-Hussein of Jordan are also standing.