FIFA suffered losses of $391 million in 2016 and expects widening losses in 2017 as it continues to pay the price for the crisis that hit in 2015 when FIFA executives were indicted on Federalcorruption charges and FIFA president Sepp Blatter resigned.
The 2016 loss was blamed on increased legal costs and the extraordinary general congress called to elect a newpresident. But spending on what FIFA calls education and development increased to $428 million during 2016 from $187 million a year earlier.
As a result of the losses its reserves fell to$1.048 billion. It should recover many of those losses as the 2018 World Cup is projected to make a $1.07 billion profit.
Sounds like Blatter put out a lot of unsuccessful bribes to get him reelected
Boo hoo. Seeing how their 1 BILLION reserve is more than that of half the countries on the planet, no one is shedding tears.