[FIFA] FIFA President Sepp Blatter described himself as "the happiest man today'' in announcing his organization's
financials for the 2007-10 cycle: a profit of $631 million on income of $4.19 billion.
"The World Cup in South Africa was a huge, huge financial success, for Africa, for South Africa and for FIFA,'' Blatter said.
FIFA's profit in 2010 alone was $202 million, largely from the World Cup.
The profit of $663 gives FIFA reserves of $1.28 billion. FIFA self-insures itself. It relies on putting money aside in case of a catastrophic event rather obtaining insurance.
FIFA was in such a strong position it could allocate $550,000 to each of its member associations and $5 million to each association, not to mention $100 million for South African soccer and community programs.
Over the next four years, FIFA will increase its spending on development programs from $691 million to $800 million.
It has already seen a 90 percent increase in media rights fees for the 2018 and 2022 World Cups over the 2010 and 2014 tournaments in the Asian and South American countries where deals have already been concluded.