FIFA makes $36 million profit in 2011

FIFA made a profit of $36 million in 2011 on revenues of more than $1 billion, football's world governing body said in its financial report released on Friday.

The report also showed that FIFA has reserves of $1.293 billion.

FIFA's revenue last year was $1.070 billion dollars, compared to $1.291 billion in 2010, while expenses were $1.034 billion, down from $1.089 billion the year before.

FIFA made a $202 million profit in 2010, $196 million in 2009 and $184 million in 2008. However revenues in the year after a World Cup, its flagship event, are traditionally weaker.

The report said that FIFA had said it invested 75 percent of its expenditure into "events and football development".

FIFA spent $183 million on development in 2011 and $589 million on events, of which $428 million was for the 2014 World Cup.

Ninety-two percent of revenue, $988 million, was event-related with television rights accounting for $550 million, the lion's share from the 2014 World Cup.

"The year 2011 was a financial success," said FIFA. "Commercialisation of rights reflects the high value of the World Cup."