FIFA with a $3,690,000 deficit
The International Football Federation (FIFA) yesterday is in the red for the second consecutive year. In 2016 the federation lost $369 million (NOK 2.6 billion).
FIFA has trouble making money when there are no World Championships.
The Federation Association explains the deficit by expenses related to the investigation of corruption within the organization, but also a number of expensive and bad investments coupled with new accounting rules have led to a bad result.
The deficit is covered by FIFA large bankroll, as there are still good for more than one billion USD.
In 2017 it is expected that the union will lose even more money, a staggering $489 million, according to NTB.
Source: NTB scanpix / Norway Today
