News 17 March 2016

FIFA’s legal fees contribute to US$122 million loss for 2015

FIFA’s legal fees almost doubled from US$31.3 million during 2014 to $61.5 million during 2015, contributing towards FIFA reporting a $122 million loss during 2015. FIFA’s revenue declined from $1.9 billion in 2014 – a World Cup year – to $972 million during 2015, a drop of almost $1 billion. The result marks the first time that FIFA has reported a negative result since 2002, when it reported a net loss of $3.1 million.

The report also revealed the salary of key FIFA personnel. Former FIFA President Joseph S. Blatter was listed as the highest-paid member of the Executive Committee, with a salary of $3.6 million. In second place was former Secretary General Jérôme Valcke, with a salary of $2.1 million. The Swiss Office of the Attorney General (OAG) has opened criminal proceedings against Valcke for ‘various acts of criminal mismanagement’, reports the BBC.

FIFA yesterday announced that it will seek to reclaim ‘tens of millions of dollars’ from corrupt officials. ‘As at 31 December 2015, the US authorities consider FIFA a victim of the alleged wrongdoings’, reads the annual report.

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