Fifa Reports Loss for 2015 But Maintains Positive Outlook for the Future

FIFA reports loss for 2015 but maintains positive outlook for the futureBishkek (AKIpress) - The unprecedented events that occurred in 2015 have impacted upon FIFA's financial results, however the organization's healthy reserves have allowed it to weather the storm. FIFA is confident that the reforms underway will help to restore trust with commercial partners and achieve the budget goals for the 2015-2018 cycle, which have been adjusted to reflect the priorities set by FIFA President Gianni Infantino.

For the first time since 2002, FIFA posted a negative result of USD 122 million in 2015. In comparison to the first year of the previous cycle (2011-2014), revenue increased by USD 82 million to USD 1,152 million, mostly attributable to the steady sales of broadcasting rights for FIFA competitions. However, expenditure compared to 2011 also increased by USD 240 million to USD 1,274 million due to an increased budget for development expenses and higher competition...