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Friday, September 15, 2006

Germany's World Cup Profit

Following a technical review of the World Cup 2006 conducted on September 11-13, FIFA and Germany's World Cup organising committee reported a revenue surplus of $340 million for the event.

The figures have still to be checked by KPMG, FIFA's auditors before they can be finalised but after this and other work, they could easily exceed the current sum.

This financial success is in light of FIFA's actions over the years to assign more World Cup rights to the host nations organising committee and through subsidies. The German organising committee budgeted for $1 billion, made up of ticket sales, rights sales to the official suppliers and a subsidy from FIFA of $420 million.

If the provisional figures are correct, the agreement reached before the competition to share the revenue would see the German organising committee receive $234 million. The other $102 million would go to FIFA as a refund for the $420 million payment that it made to the host nation.

posted by Footballer at Germany's World Cup Profit

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