FIFA losses were about £300m in 2016 and now they scheduled to face another loss for £400m in this year.
Today is the most money in football than ever were. Players are getting huge payment, clubs got incredible revenue and every season making record-breaking transfer deals. Still, not everyone is in the benefit.
World football’s governing body FIFA shared the information about incoming losses. They already had a £100m loss in 2015, but in 2017 that sum will be four times larger.
The bottom line was reached because of some poor investments and scandal-related legal costs. FIFA have paid £50m to lawyers in 2016. Still, criminal investigations in Switzerland and USA is in the process.
Former president Sepp Blatter has invested in a football museum and hotel in Zurich. And it has proved a lot of losses. In FIFA’s report that investment is referring as ill-considered.
However, it doesn’t matter in the lead of Russia 2018. If the World Cup delivers about the same income all financial issues will be resolved. By approximate calculation, the expenditure may be over £900m and the overall profit for FIFA will become a striking £1.3bn.
Current president Gianni Infantino said in a press conference: “Last year was the turning point when were made vital steps for restoring a trust in the organization. And now we are building a solid framework to ensure that every part of a revenue is well invested in the game. It also means employing a responsible and transparent way of governing all the incomes and losses. We are placing football at the heart of everything that FIFA does”.