Tuesday , 23 October 2018
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FIFA suffers £300m losses and preparing to face another £400m loss in 2017
Photo by Harold Cunningham

FIFA suffers £300m losses and preparing to face another £400m loss in 2017

FIFA losses were about £300m in 2016 and now they scheduled to face another loss for £400m in this year.

FIFA suffers £300m losses and preparing to face another £400m loss in 2017
Photo by Harold Cunningham

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”.

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