FIFA Publishes New Annual Reports

FIFA today published its Financial, Governance and Activity Reports for 2016.

This will go down as a landmark year in the history of FIFA, with the approval of much-needed governance reforms after a period of deep crisis and the arrival of new leaders. The financial results shows a 76 percent of forecast revenue for the 2015-2018 cycle already contracted and an estimated positive net result of $100 million at the end of the period.

This continued revenue growth alongside focused cost containment measures have allowed direct investment in regional and local football development to be tripled through the new FIFA Forward Programme. Within a four-year cycle, every member association is entitled to receive up to $5 million, up from a maximum of $1.6 million under the previous structure. This money will be invested in efficient, tailor-made projects, and member associations scrutinised closely to verify that the funds have been used appropriately. Overall for the 2015-2018 cycle, 82 percent of the forecast expenses will be invested directly in football activities.

One of the key goals of the reforms is to ensure that FIFA tightens its control over money flows and treats its finances with full transparency. This is reflected in this year’s Financial Report as FIFA has been early to adopt the new revenue recognition standard IFRS 15. This method more accurately reflects the organisation’s income pattern over a four-year FIFA World Cup cycle, in which three years of steady outgoings are typically offset by the revenue of the fourth.

FIFA President Gianni Infantino said: "2016 was the turning point when the first and vital steps to restore trust in the organisation were taken. This includes employing a responsible and transparent way of managing revenue and expenditure. We are building a solid framework to ensure thorough oversight and proper accountability, and placing football at the heart of everything that our organisation does: after all, we need to ensure that every bit of revenue is well invested in the game. The FIFA Forward Development Programme is an embodiment of this commitment.”