FIFA records $122 million loss as scandal takes toll
Football's world body had a surplus of $141 million in 2014
PHOTO: AFP
ZURICH:
FIFA on Thursday announced a $122 million loss in 2015 which it blamed partly on legal fees and other extra costs caused by a corruption scandal.
Football's world body, which had a surplus of $141 million in 2014, said it was its first loss since 2002.
Gianni Infantino wins FIFA presidency
FIFA's revenue has increased in its past four-year financial cycle, but it blamed the loss on "expenses and higher competition costs, but also due to unforeseen costs such as legal fees and costs for extraordinary meetings."
FIFA on Thursday announced a $122 million loss in 2015 which it blamed partly on legal fees and other extra costs caused by a corruption scandal.
Football's world body, which had a surplus of $141 million in 2014, said it was its first loss since 2002.
Gianni Infantino wins FIFA presidency
FIFA's revenue has increased in its past four-year financial cycle, but it blamed the loss on "expenses and higher competition costs, but also due to unforeseen costs such as legal fees and costs for extraordinary meetings."