FIFA Crisis Leads to £67m Loss for 2015

FIFA has announced a loss of £67 million for 2015, adding another negative to a year of crisis for the organisation. 

This is the first loss FIFA has posted since 2001 and is largely down to the corruption scandal it has faced this year and the subsuquent loss of sponsors and legal expenses paid out. 

World football's governing body has this year lost major sponsors such as Emirates and Sony, who both decided not to renew their agreements due to the negative image and publicity around FIFA.

A FIFA spokesman claims this figure is a forecast rather than an actual figure which can still be altered.

This latest news will put increased pressure on the FIFA Executive Committee to vote in favour of the reforms which have been put forward, which include proposals for greater financial transparency and 12-year term limits for the president and executive committee members.

FIFA has called a press conference for today at 1400 CET (1300 GMT) to announce the voting for the reforms and more. 

The FIFA Executive Committee has unanimously approved a set of proposals by the FIFA Reform Committee that will allow for changes to FIFA’s governance structure.

The proposals will need to be ratified by FIFA's congress at its extraordinary seesion in Zurich on 26 February.

Among the reform proposals include a term limit of 12 years for a FIFA president, an increase in the number of women involved in the decision-making process and compulsory and comprehensive integrity checks for all members of FIFA’s standing committees.