FIFA Charity Workers Screw South Africa.

Paddy Samurai

Football's world governing body Fifa is set to announce record earnings today just as anger is building in South Africa over the final bill for hosting the continent's first World Cup.
Fifa officials gathering for the organisation's annual congress in Johannesburg will reveal that annual income has leapt by 50pc since the last World Cup was staged four years ago in Germany.
The non-governmental organisation is sitting on more than $1.1bn (€0.92bn) in equity, according to a provisional copy of its own financial report. The announcement of the huge pay day comes as the latest estimate of the cost of staging the finals comes to $8.6bn (€7.2bn) in a country where more than 40pc of the population live on less than $2 a day.
The announcement of the huge pay day comes as the latest estimate of the cost of staging the finals comes to $8.6bn (€7.2bn) in a country where more than 40pc of the population live on less than $2 a day. ................Under the terms of a confidential agreement signed between Fifa and Pretoria, the South African government takes no share of television, marketing deals or ticketing – the mega-event's main money spinners – and shoulders the cost of new sports stadia and related infrastructure............He said that South Africa had paid a premium to Fifa to secure the World Cup – giving away millions of dollars in potential taxes that European hosts Germany had not agreed to for the 2006 tournament.

Feel sorry for the South Africans....think they got screwed big time.Hope it works out for them and they don't regret hosting it.

Forecasts predict profits in excess of $2.5bn (€2.1bn) for the Swiss-registered charity, which means it will make more money from the World Cup than the host country will.

I never knew FIFA were registered as a charity,with over 1 billion in equity.




http://www.independent.ie/sport/soccer/world-cup/hosts-see-red-as-world-cup-bill-soars-ndash-but-fifa-is-euro21bn-in-black-2213531.htm

bonerm

Screw them. They got the world cup. They can blow it out their vuvuzela's if they don't like it

Cool_CM

Paddy Samurai wrote: »

I never knew FIFA were registered as a charity,with over 1 billion in equity.

Yup, they are based in Zürich and have lovely HQ. I headed up to check it out one night back in November.

In fairness, it looks like they do good work.

http://www.fifa.com/aboutfifa/index.html

http://www.fifa.com/aboutfifa/worldwideprograms/goalprogramme/index.html

http://www.fifa.com/aboutfifa/worldwideprograms/footballforhope/index.html

http://www.fifa.com/aboutfifa/federation/mission.html

prinz

Paddy Samurai wrote: »

Feel sorry for the South Africans....think they got screwed big time.Hope it works out for them and they don't regret hosting it.

They should never have gotten it in the first place... and they were screwed by their own government.

starbelgrade

Yep - FIFA are a charity. They didn't get away with this carry on in Germany though.

Fratton Fred

FIFA must be the most openly corrupt body in the world.

Their Finance director was taking huge backhanders from one of the soprtswear manufacturers. He got caught and fined under Swiss law and ordered to pay back the money he took.

FIFA paid his fine, paid back the money and he kept his job. He has since retired on a massive pension.

Then, there's Jack Warner.....

Paddy Samurai

Fratton Fred wrote: »

FIFA must be the most openly corrupt body in the world.

Their Finance director was taking huge backhanders from one of the soprtswear manufacturers. He got caught and fined under Swiss law and ordered to pay back the money he took.

FIFA paid his fine, paid back the money and he kept his job. He has since retired on a massive pension.

Then, there's Jack Warner.....

Yea they seem to be a law unto themselves.Have become so powerfull that no one seems able to rein them in.LOL...more powerfull than governments.Absolute power...........

Wazdakka

Meh...

Lone Stone

If there going to bitch and moan about the cost they should have turned down the offer to host it.

epgc3fyqirnbsx

I'm really surprised they get no share of marketing, ticketing or television

Fratton Fred

Each FA gets an allocation of tickets, so they do get some.

Half a million people visiting the country should help as well. Imagine how much overtime Castle Lager have had to put on!

Don't really care what Fifa or South Africa get up to.. It's their competition to do with what they like and Africa won the right to host it.

biko

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