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The Canadian Press - ONLINE EDITION
FIFA reports $89M profit on $1.16BN income in 2012 account; reserves close to $1.4BN
Brazil's Sports Minister Aldo Rebelo, left, FIFA President Joseph Blatter, and FIFA Secretary General Jerome Valcke, right, attend a press conference at the FIFA's headquarter in Zurich, Switzerland, Tuesday, March 19, 2013. They discussed issues related to the organization of the FIFA Confederations Cup in Brazil 2013 and the 2014 FIFA World Cup in Brazil. (AP Photo/Keystone, Walter Bieri)
ZURICH - FIFA has reported a profit of $89 million for 2012 and has reserves of $1.378 billion.
FIFA published accounts which showed revenue of $1.166 billion last year and spending of $1.077 billion.
The 2012 report covers the second year of a four-year financial cycle for the 2014 World Cup in Brazil.
FIFA pays no tax on commercial income from the World Cup because of its status as a not-for-profit association in Swiss law.
Blatter's salary and benefits were not detailed.
He was among FIFA leaders and executives — defined as "key management personnel" — who shared payments totalling $33.5 million.
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