Soccer: FIFA beats world crisis; makes $184m profit in '08
Associated Press
ZURICH, Switzerland — FIFA says it made a profit of $184 million (€135 million) in 2008 and wasn't damaged in the global financial crisis.
FIFA's annual financial report says it had an income of $957 million (€703 million) last year. A total of 94 per cent was generated by television, marketing and sponsorship money raised from events such as the World Cup.
Football's world governing body said Friday it even made a profit of $16 million (€11.8 million) in managing its assets.
The organization's equity now stands at $902 million (€662 million). It was boosted by a successful policy of hedging foreign currency, the report said.
