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FIFA Posts Profit Despite MasterCard Payout

  • Reuters, Friday, May 30, 2008 2 PM
FIFA announced a profit of $49 million for 2007 at its annual congress, despite having to pay former sponsor MasterCard an astronomical $90 million as part of a legal settlement.
 
As an existing sponsor, MasterCard had had first refusal on the sponsorship rights to the 2010 and 2014 World Cups. When FIFA went ahead and struck a deal with rival Visa International, MasterCard sued FIFA in a New York court. The soccer body reached the settlement with MasterCard before the case was decided.
 
FIFA's Deputy Secretary General Markus Kattner called it "a very positive result," given the circumstances. "Overall, 2007 can be considered very successful," he told the congress. "FIFA is in a sound financial position." Revenue was $882 million, with $833 million in costs. In 2006 revenue was $749 million, against expenses of $500 million.

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