FIFA expects $100 million profit in 2015-18 financial cycle

Madrid, May 11: The chief of FIFA finance committee said on Thursday that FIFA is in a good economic position and expects to conclude the 2015-18 financial cycle with $100 million in profit.

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Paraguayan Alejandro Dominguez, also president of the South American Football Confederation (CONMEBOL), told the 67th FIFA Congress in Manama, Bahrain, that FIFA has tripled its financing in different football development projects, reports Efe.

Earlier, FIFA President Gianni Infantino said in his opening address to the Congress that the fiscal situation of the soccer organisation is extremely solid.

The Congress approved the financial balance for 2016 and the budget for 2018, the year in which the World Cup will be played in Russia.

IANS