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- Successful sales and operations in 2017 delivered a result of USD 300 million over budget
- Positive result in excess of USD 100 million to be achieved for the 2015-2018 cycle, with 98% of revenue contracts already signed with one year to go until the end of the cycle
FIFA unveiled today a solid financial result for 2017 and a promising outlook for the end of the current cycle.
“I am very pleased to see that FIFA is able to deliver on its promises. We had committed to restoring trust in the organisation and boosting investments for the development of football worldwide. This is now a reality. Today, FIFA’s financial situation is very solid thanks to the growing interest from our partners. This has allowed us to roll out our Forward development programme successfully, raising the support to all member associations and confederations to unprecedented levels,” said FIFA President Gianni Infantino.
2017 was a successful year for all key financial parameters. Revenues were higher than expected, mainly from sales of broadcasting, marketing and licensing rights. On the cost side, FIFA managed to maintain its strong investment in football via the FIFA Forward Programme, while keeping overall expenses well below budget thanks to rigorous cost control measures. Consequently, the budgeted results were exceeded by USD 300 million.
More importantly, of the total revenue of USD 5,656 million budgeted for the 2015-2018 cycle, USD 5,555 million had already been contracted one year prior to the end of the cycle. Yet significant revenue items, such as the sales of FIFA World Cup tickets and hospitality, remain to be accounted for. Therefore, it is confidently forecast that the result at the end of the 2015-2018 financial cycle will surpass the USD 100 million that had been budgeted.
Since the launch of the FIFA Forward Programme in 2016, FIFA has increased its investment in football development to record levels to make the game more accessible to girls and boys around the globe. As at the end of 2017, FIFA had received 1,554 Forward applications from member associations, confederations and regional/zonal associations. The total investment dedicated to the Forward Programme in the 2015-2018 cycle amounts to USD 1,079 million, of which USD 393 million has already been released. The committed funds will continue to be released progressively in accordance with the agreed individual milestones of each association, pending successful demonstration of continued project delivery.
With this significant increase in development funding, it is critical that there be much tighter scrutiny. Stringent financial controls are now in place to ensure that these funds are being used properly. All of the 211 member associations and six confederations receiving Forward funds will undergo a central audit review this year undertaken by world-class independent auditors.
Full details can be consulted in the Financial, Governance and Activity Reports available on FIFA.com. The set of reports is ready to be submitted for ratification to the 68th FIFA Congress, in Moscow, on 13 June.