FIFA reveals billion dollar equity

Television ($650 million) and marketing ($277 million) rights sales brought in the vast majority of revenue of $1,022 million in 2009, FIFA's financial report showed.

Presenting the report to Congress on the eve of the opening match of the World Cup in South Africa, FIFA said it now had a "solid" equity basis of $1,061 million.

"While equity of over a billion dollars seems high, it is necessary as the financial risks exceed it many times over," Franco Carraro, chairman of the internal audit committee, told delegates. "The figure is only enough to cover the next year and a half."

Follow FFT.com on Twitter
Join FFT.com on Facebook