FINANCIAL REPORT

2018
 FIFA Activity Report 2018
ACTIVITY REPORT
2018
2018 FIFA World Cup Russia™
More than half the world’s population watched as Russia put on a festival of football that
brought a new perspective to the beautiful game and the host country itself.
Forward 2.0
Having redefined the landscape in football development with more than 900 concrete projects,
the Forward Programme is evolving to help the member associations do even more through
investment in footballing and human capital.
Women’s Football Strategy
Taking the lead in the women’s game, FIFA set out a realistic plan with measurable deliverables
in its Women’s Football Strategy.
FIFA World Cup 2026™
For the first time, it was the FIFA member associations that decided on the hosting of the
FIFA World Cup™ in an all-inclusive final vote at the 68th FIFA Congress.
More than a game
In collaboration with national and international authorities, FIFA has an important role to play
in unlocking football’s enormous power for good around the world.

FIFA Financial Report 2018

FINANCIAL REPORT
2018
Huge financial success in the 2015-2018 cycle
FIFA’s revenue reached a new high of USD 6,421 million, of which USD 5,357 million or 83%
was delivered by the 2018 FIFA World Cup Russia™, the most profitable edition to date.
FIFA’s revenue goes back into football
More than 81% of full-cycle investments (USD 4,360 million) were invested across the entire
football community: through substantially increased development funding for FIFA members,
as well as financial contributions to all participants at Russia 2018.
Strong and sustainable financial position
FIFA’s total assets amounted to USD 4,389 million (50% higher than at the end of the previous cycle),
with 82% in the form of cash, cash equivalents and financial assets.
Prepared for the future
FIFA’s reserves also reached a new record level of USD 2,745 million, providing global football
with a solid financial foundation from which to flourish.

FIFA Governance Report 2018

GOVERNANCE REPORT
2018
A landmark FIFA World Cup™ for the Compliance Division
FIFA’s comprehensive World Cup compliance programme helped to build transparency, foster ethical
behaviour, identify risks, define policies, create procedures and implement prompt corrective measures.
More development and education funding
FIFA Forward now has a budget of USD 1,746 million for the new four-year cycle, 2019-2022.
Better funding oversight
Independent central reviews of 204 member associations in 2018 – an increase of 179% on 2017.
New compliance training and guidance
Five new directives and a greatly increased programme of compliance training were among
FIFA’s key internal initiatives during 2018.
A successful bidding process for the FIFA World Cup
Transparent, objective, inclusive and sustainable – the two-year bidding process for FIFA’s flagship
tournament concluded successfully in the summer.
France star Kylian Mbappé kisses
the FIFA World Cup Trophy.
FINANCIAL REPORT 2018

CONTENTS
1 MESSAGES TO READERS 4 4 INVESTMENTS IN FOOTBALL 38
FIFA President 7 Summary of FIFA’s investments in football 40
Chairman of the Finance Committee 9 FIFA Forward Programme – 2016-2018 44
FIFA Secretary General 11 FIFA Football for Schools Programme 54
Increased contributions to the
FIFA Women’s World Cup France 2019TM 56
2 2015-2018 CYCLE IN REVIEW 12
FIFA Club Protection Programme 58
2018 financial highlights 14
Revenue 2015-2018 16
Investments/expenses 2015-2018 18 5 BUDGET FOR 2020 60
Balance sheet and reserves 2015-2018 22 Detailed budget for 2020 62

Asset management 2018 24

Budget comparison 2015-2018 26 6 FINANCIAL REPORT 2018 66
Consolidated financial statements 68

FINANCIAL OVERVIEW OF THE Notes 74

3 2018 FIFA WORLD CUP RUSSIA™ 32 Reports to the FIFA Congress 127
Revenue 34
Expenses 36
7 ANNEXE 138
Consolidated statement of comprehensive income 2015-2018 140
Notes 2015-2018 141

The statements in this publication relating to matters that are not historical facts are projections of future performance that are subject to
significant known and unknown risks, uncertainties and other factors beyond the control of the organisation. FIFA does not provide any
guarantee of future performance.
The Financial Report 2018 is also available in German, French and Spanish. In the event of any discrepancy, the English version shall prevail.
The electronic versions of the report can be found on FIFA’s official website, FIFA.com.

FIFA FINANCIAL REPORT 2018 | 3

 Saudi Arabia goalkeeper
Abdullah Al-Mayouf pulls
off an acrobatic save
during the opening
match of Russia 2018.

FIFA President 7

Chairman of the Finance Committee 9

FIFA Secretary General 11

MESSAGES 1
TO READERS
Colombia’s Yerry Mina celebrates
with Dávinson Sánchez after
breaking the deadlock against
Poland during the 2018 FIFA
World Cup Russia™.
 FIFA PRESIDENT MESSAGES TO READERS | 1

We delivered.

FIFA’s performance is best measured by actions, not just

words. This is something I’ve been repeating since my
election in 2016, and 2018 provided the greatest measure
yet. During those 12 months, FIFA showed the world
that it is a positive, responsible and pioneering sports
organisation.

The 2018 FIFA World Cup Russia™ was hailed by a great

many people from all across society as the best World Cup
ever. From the level of organisation and the spirit of the
volunteers to the successful implementation of new
technology and the unique atmosphere of togetherness
created by fans of all nationalities, not to mention
the action on the pitch, Russia 2018 was a resounding
triumph.

And FIFA did so much more in 2018: we led the continued

professionalisation of our sport around the world, we
deepened our commitment to development, we made The end of a cycle is an ideal moment to reflect on
strides towards bringing much-needed structure to the achievements. Looking back, I see how robust our financial,
club game, and one year ahead of women’s football’s governance and compliance structures have become, how
showpiece event, we unveiled our Women’s Football much more comprehensive our development work is, and
Strategy. It is fair to say that FIFA is engaging with the how much better we are at listening to the game’s
world as never before, and it is much to the benefit of stakeholders – all of which ultimately impacts football in a
football. much more sustainable way.

FIFA’s investment in football in years to come is During this cycle, we rebuilt our organisation from the
safeguarded by our organisation’s strong financial situation ground up and, at the end of it, enjoyed the best FIFA World
at the close of the four-year World Cup cycle. Thanks to a Cup the world has ever seen. I can assure you, it will only get
combination of conscientious cost reduction, expert better from here.
financial direction and a successful commercial programme,
FIFA managed to increase its financial assets significantly in
2018, assets that will be invested straight back into the Yours in football,
game that is the reason we are here in the first place.

The main channel through which FIFA invests in the game

is Forward 2.0. FIFA’s signature development programme
has evolved, not just through the increased funding of up
to USD 6 million over four years, but also in terms of the
bolstered compliance structure that requires all recipients
to show the funds they receive are responsibly managed Gianni Infantino
through best-practice controls and reporting methods. FIFA President

FIFA FINANCIAL REPORT 2018 | 7

Mehdi Taremi and Saman
Ghoddos of IR Iran
celebrate victory over
Morocco at Russia 2018.
 CHAIRMAN OF THE FINANCE COMMITTEE MESSAGES TO READERS | 1

Last year, FIFA’s annual result came in at USD 1,814 million,

65% higher than budget. This vigorous performance was
thanks to a FIFA World Cup™ that delivered beyond all
expectations and came at the tail end of a rollercoaster of
a financial cycle. Back in 2015, at the beginning of the
cycle, few could have foreseen FIFA’s resurgence and,
indeed, some believed that our organisation was teetering
on the brink.

However, in the same way that human error was what

nearly brought FIFA down, human resilience and
determination were what set FIFA back on track to become
the thriving institution it is today.

The budget for the cycle, revised in 2015, reflects the

cautiousness of the time. Nevertheless, FIFA went back to
basics and took serious cost-cutting measures, snapped
into line with the very latest transparent financial reporting
standards and followed through on an ambitious
commercial programme in preparation for the 2018 FIFA
World Cup™ in Russia. Like that tournament, FIFA’s associations and the confederations will receive a 20%
financial performance was beyond all expectations, increase in funding for their football development under
12 times the budget level. I cannot think of a stronger FIFA Forward 2.0.
testament to those that stepped in to straighten out the
way the organisation handled its finances. Always with an eye on the long-term development of our
sport, we have also committed USD 100 million to the
Thus, in 2018, as far as FIFA’s financial situation goes, there Football for Schools Programme, helping to take football
was good news and there was great news. further and wider in the world with the ultimate goal of
unlocking the potential of young people on and off the pitch.
The good news is that today FIFA stands in outstanding
financial health and sets the standard among sports The Financial Report for 2018 offers a look inside our success
organisations for transparent, efficient and thorough story and I am very proud to share it with the world.
reporting of its accounts. In line with the culture
throughout the organisation, as our revenues have grown,
so have the measures we have in place to control every Yours faithfully,
single cent flowing into and out of our accounts.

The great news is that FIFA’s financial strength is football’s

financial strength too: that revenue is going straight back
into the game. By the end of 2018, FIFA had committed
Forward funds totalling USD 832 million, and another
USD 352 million from this cycle entitlement is waiting to Alejandro Domínguez
be released to our members. In the new cycle, the member Chairman of the Finance Committee

FIFA FINANCIAL REPORT 2018 | 9

Croatian duo Dejan Lovren and
Luka Modrić celebrate their
side’s quarter-final victory over
the hosts in Russia.
 FIFA SECRETARY GENERAL MESSAGES TO READERS | 1

This was a year of big achievements for all of us at FIFA. The

administration showed its drive and creativity to make
development projects happen around the world, keep our
competitions and events world-class, fight injustice and
promote equality across society, and – alongside the Russia
2018 Local Organising Committee – stage a FIFA World
Cup™ that brought more than a million fans to Russia and
set new audience records with more than half the world
watching. The fans engaged with us on an unprecedented
scale to tell us just how they want to see their sport develop.
The players gave their all to make the World Cup an
unforgettable experience. And the member associations
showed their commitment and desire to boost the game
around the world, submitting 606 Forward Programme
project applications, a new high.

After putting on the best FIFA World Cup ever, rather than
resting on our laurels, we are more motivated than ever to
keep evolving as an organisation. That’s not to say we need
to shake everything up: as much as we want to make key
changes, we should also acknowledge the things that we part of our fabric through a new division dedicated to the
have done well. digital transformation of FIFA. It is why we have established
a new internal audit function, providing independent
Indeed, we have just conducted the most transparent, assurances on the effectiveness of FIFA’s governance, risk
objective and inclusive FIFA World Cup bidding process ever, management and internal control processes. And it is why
which was finally decided in an open vote by the member we have raised the bar in regard to funding and financial
associations themselves. We have subjected the financial accountability through Forward 2.0, our signature
management of our members (not to mention our own) to development programme, with development offices around
unparalleled scrutiny – in 2018 alone, we conducted central the world upping our game in terms of communication and
reviews of the development finances of 204 members – coordination.
within a robust compliance system throughout the football
world. Within the administration, we have trained more staff The new World Cup cycle offers a host of new opportunities
than ever on the foundations of conduct and integrity, a core for the football community. Our organisation is fit and ready
component of our compliance programme. to meet this challenge and set new standards throughout
the world.
Our member associations came together in Zurich in October
to discuss compliance topics and to exchange best practices,
thereby enhancing their compliance programmes across the Yours faithfully,
football world. And we have put our finances in solid order,
bringing in a net result of USD 1,201 million at the end of the
FIFA World Cup cycle, funds that will be used to continue our
work to further develop all levels of the sport.

But we also know that we can do better. That is why we

have set out our long-term strategy for the women’s game:
gender equality is absolutely essential to football and is a key Fatma Samoura
part of the FIFA 2.0 vision. It is why we have made innovation FIFA Secretary General

FIFA FINANCIAL REPORT 2018 | 11

Croatia erupt in joy
after downing Denmark
in a round-of-16 penalty
shoot-out in Russia.
 2018 financial highlights 14
Revenue 2015-2018 16
Investments/expenses 2015-2018 18
Balance sheet & reserves 2015-2018 22
Asset management 2018 24
Budget comparison 2015-2018 26

2015-2018 CYCLE 2
IN REVIEW
2 | 2015-2018 CYCLE IN REVIEW

2018 FINANCIAL HIGHLIGHTS

Strong 2018 results crown the 2015-18 cycle,

leaving record reserves for future investments
USD 185 million, 206% higher than budgeted, mainly driven by
4,641 +16% versus budget
the successful delivery of the FIFA eWorld Cup™ Grand Final 18.
Revenue in 2018 (USD million)

2,891 +0.3% versus budget FIFA’s investments/expenses in 2018 totalled

Investments/expenses in 2018 (USD million) USD 2,891 million, 63% (USD 1,824 million) of which was
dedicated to the 2018 FIFA World Cup in Russia. After adding
1,750 +60% versus budget the investments in football development, football governance
Result before taxes and financial result (USD million)
and other football tournaments and events for USD 760 million,
2,745 +66% versus budget FIFA contributed 89% of its 2018 investments directly to football
Reserves (USD million) activities, including the FIFA Football for Schools Programme
that was launched in 2018 with a budget of USD 100 million.
630 The remaining 11% was expensed in administrative activities.
Operating cash flow (USD million)
In 2018, the result before taxes and financial result amounted
to USD 1,750 million, and FIFA achieved a financial result of
This year concludes the 2015-2018 cycle and will be USD 93 million, mainly including interest income and income
remembered as an excellent year in many aspects. The FIFA from FIFA’s investment and currency fluctuation gains. Tax of
World Cup™ in Russia achieved huge sporting and financial USD 29 million was expensed for 2018.
success, generating the highest revenue in FIFA’s history and
being the most profitable edition to date. The financial The net result for 2018 came to USD 1,814 million. This
achievements in 2018 allowed FIFA to increase contributions result made up the negative results of the first three years of
to participants in the tournaments, and launch new football this cycle, leading to the net result for the whole 2015-2018
development programmes. In addition, FIFA’s reserves cycle standing at USD 1,201 million, 12 times the budgeted
reached an unprecedented new height, providing the basis net result (USD 100 million).
for increased future distribution in football.
The operating cash flow generated a solid inflow of
An overview of key annual figures for 2018 is provided on this USD 630 million, leading to cash and cash equivalents
page. For more details on the 2018 financials, please refer to standing at USD 832 million at the end of 2018.
chapter 6.
As at 31 December 2018, FIFA’s balance sheet totalled
FIFA operates in a four-year cycle, with the FIFA World Cup™ USD 4,389 million, 82% of which was in the form of cash, cash
being the crowning event in the fourth year and the main equivalents and financial assets. FIFA’s reserves reached a new
source of its income. Therefore, FIFA is best viewed considering height of USD 2,745 million, 80% higher than the level at the
all four years of each cycle, and the following pages have been end of the 2011-2014 cycle. FIFA’s financial position is extremely
added to provide additional details for the 2015-2018 cycle. healthy, sustainable and strong with a substantial cash base and
sufficient reserves ensuring future investments in football
The 2018 revenue amounted to USD 4,641 million, development.
USD 645 million more than the budget as approved by the FIFA
Council in 2016, thanks to the beyond-expectation performance In conclusion, 2018 was a year to remember from a sporting,
of sales of TV broadcasting rights, marketing rights, licensing operational and financial perspective. The substantial financial
rights and hospitality rights and tickets. The biggest source of achievements resulted in positive deviations from the budget
revenue (55%) was the sale of television broadcasting rights. and will provide global football with a solid financial
The biggest leap came from licensing rights, generating foundation from which to flourish.

14 | FIFA FINANCIAL REPORT 2018

 2018 FINANCIAL HIGHLIGHTS 2015-2018 CYCLE IN REVIEW | 2

STATEMENT OF PROFIT OR LOSS 2015-2018 (USD MILLION)

REVENUE
5,656 Budget
5,000 Initial budget approved
by the 2014 FIFA Congress
4,641
6,421

734
502
544
2015 2016 2017 2018 2015-18

EXPENSES
5,556 Budget

4,900 Initial budget approved

by the 2014 FIFA Congress
2,891

5,368
923

893
661

2015 2016 2017 2018 2015-18

RESULT BEFORE TAXES AND FINANCIAL RESULT

1,053 +953 versus budget

1,750 100 Budget
–117
–391
–189

2015 2016 2017 2018 2015-18

FIFA FINANCIAL REPORT 2018 | 15

2 | 2015-2018 CYCLE IN REVIEW

REVENUE 2015-2018

Enduring revenue growth – USD 888 million

over the level of the 2011-2014 cycle
The 2015-18 cycle will certainly be remembered as one of Another indication of the pulling power of the FIFA World
the most turbulent times in FIFA’s entire history. At the start, Cup, despite the difficult situation in early 2016, is the fact
the 2014 FIFA Congress approved a revenue budget for that revenue from marketing rights increased to
USD 5,000 million. As 2015 drew to a close, however, FIFA USD 1,660 million, 15% over the full-cycle budget. Overall,
was facing the biggest crisis in its existence, and sales FIFA signed up 14 new sponsors in the 2015-2018 cycle,
activities came to a virtual standstill. Yet FIFA responded resulting in seven FIFA Partners, five FIFA World Cup Sponsors
quickly and after a series of statutory reforms, a change of and eight Regional Supporters. Seven of these companies
leadership, and the adoption of financial and commercial best were from China, and as such Chinese businesses had an
practices, FIFA has gone a very long way towards restoring unprecedented presence at the 2018 FIFA World Cup.
transparency and trust. The 2016 FIFA Congress approved a
new revenue budget for USD 5,656 million. In the end, the Of the five revenue categories, the biggest leap came from
revenue for the 2015-2018 financial period totalled a record licensing rights. Revenue from licensing rights for the
of USD 6,421 million, of which USD 5,357 million or 83% 2015-2018 cycle was USD 600 million, 114% higher than the
came directly from FIFA’s flagship tournament, the 2018 FIFA level of the 2011-2014 cycle. This vigorous performance was
World Cup™ in Russia, which serves to highlight the unique primarily driven by a strong performance in brand licensing,
importance of the FIFA World Cup™ in FIFA’s revenue structure. for example, the successful delivery of the FIFA eWorld Cup™
Grand Final 18. This event attracted over 20 million players
The total revenue of the 2015-2018 cycle was 16% higher and its on-site multi-language stream generated more than
than that of the previous 2011-2014 cycle and 14% over the 29 million digital views during the event, representing an
full-cycle revenue budget. This good result in spite of the increase of 400% in digital views compared to the previous
2015 crisis can be attributed to the better performance of all edition.
revenue categories.
Revenue from hospitality/accommodation rights and
The lion’s share of the full-cycle revenue, the sale of TV ticket sales totalled USD 712 million, primarily relating to the
broadcasting rights, amounted to USD 3,127 million, sale of tickets for the 2018 FIFA World Cup and the relating
exceeding the previous cycle’s level by 21%. Of all FIFA hospitality/accommodation rights. A total of 3,031,768
tournaments and events organised in the 2015-2018 cycle, people attended the 64 matches across 12 stadiums, with
the 2018 FIFA World Cup Russia contributed 95% of the 2,745,357 tickets sold to fans all around the world, producing
income from TV broadcasting rights. The number of unique revenue of USD 541 million. Another USD 148 million was
viewers of the 2018 FIFA World Cup Russia exceeded three generated from the sale of hospitality/accommodation rights
billion across all viewing methods, with more than one billion for the 2018 FIFA World Cup. Other FIFA tournaments and
people watching the final. In this cycle, the trend in TV events delivered USD 23 million from hospitality rights and
broadcasting towards digital streaming audiences has ticket sales.
increased as expected – research also showed that 22% of
those viewers watched the 2018 FIFA World Cup in Russia out Other revenue, such as from the FIFA Club World Cup,
of home or on computers/mobile devices. For example, visits penalties/appeals, the FIFA Quality Programme, rent of real
to Chinese digital platforms for simulcast and video-on- estate, the FIFA World Football Museum, the Olympic Football
demand (VOD) coverage of the World Cup reached a record Tournaments Rio 2016, the sale of film and video rights and
of 5,960 million. Another trend was the geographic shift of other income added up to USD 322 million. Among these
investment in TV broadcasting rights – of five big sale items, the annual FIFA Club World Cup was the biggest
territories, the Asian and North African territory delivered the source of income, generating revenue of USD 123 million.
most substantial part of the revenue from TV broadcasting
rights for the amount of USD 974 million, exceeding the
European territory for the very first time.

16 | FIFA FINANCIAL REPORT 2018

 REVENUE 2015-2018 2015-2018 CYCLE IN REVIEW | 2

REVENUE 2015-2018 (USD MILLION)

Hospitality rights and ticket sales 712 Other revenue 322

Hospitality/accommodation 148 FIFA Club World Cup 123
Ticket sales 564 Penalties/appeals 27
FIFA Quality Programme 44
5%
FIFA World Football Museum 12
Income from sales of film/video rights 22
11% Other events and areas
(Players' Status, annual subscription fees
Licensing rights 600 and match levies) 94

Brand licensing rights 575

Other licensing rights 25 9%
100% = Television broadcasting rights 3,127
USD 6,421 million 49%
Europe 920
Asia and North Africa 974
South and Central America 452
North America and the Caribbean 522
Rest of the world 104
Marketing rights 1,660 Other broadcasting and FIFA events
26%
revenue (revenues from host broadcasting
FIFA Partners 1,118 services and other FIFA events) 155
FIFA World Cup Sponsors 363
FIFA Regional Supporters 153
FIFA National Supporters 26

REVENUE SPLIT 2015-2018 (USD MILLION)

2015 2016 2017 2018 TOTAL

Television broadcasting rights 258 96 229 2,544 3,127

Marketing rights 157 115 245 1,143 1,660
Licensing rights 51 204 160 185 600
Hospitality/accommodation rights and ticket sales 0 0 23 689 712
Other revenue 78 87 77 80 322
TOTAL 544 502 734 4,641 6,421

FIFA FINANCIAL REPORT 2018 | 17

2 | 2015-2018 CYCLE IN REVIEW

INVESTMENTS/EXPENSES 2015-2018

81% of full-cycle investments

directly in football
lower costs than, for example, the 2014 FIFA World Cup
5,368 Brazil™. Against the approved budget, USD 1,948 million, a
Total expenses in 2015-2018 cycle (USD million) significant saving was achieved in the amount of
USD 124 million. Russia 2018 was not only a sporting success
2,566
Invested in 32 tournaments and events (USD million) but also a financial success. More details on the tournament
can be found in chapter 3 of this report. The other
1,670 32 tournaments and events organised in the 2015-2018
Invested in Development & Education (USD million) period accounted for expenses of USD 559 million. In
addition, USD 106 million was invested in the FIFA Club
81% Protection Programme for the whole cycle. More information
Investments in football activities for the full cycle
on this programme can be found on pages 58 to 59.

Development & Education

In the 2015-2018 cycle, FIFA’s revenue reached an FIFA invested a total of USD 1,670 million in Development &
unprecedented level, providing a very solid foundation for Education. USD 1,079 million was dedicated to the Forward
FIFA to redistribute the majority of its revenue back into Programme, which was launched in 2016 to replace the
football. FIFA’s total investments in football and administrative Financial Assistance Programme and other football
expenses in the 2015-2018 cycle amounted to development projects by increasingly fourfold the
USD 5,368 million, of which USD 4,360 million or 81% was entitlements compared to the previous cycle. FIFA increased
directly invested in football activities. FIFA not only increased its investment in football development to new heights and
the solidarity funds for its members through the Forward implemented an oversight mechanism to ensure that Forward
Programme, the financial contributions to the participating funds are used transparently, judiciously and effectively. By
teams of the 2018 FIFA World Cup Russia™, the investments the end of 2018, FIFA had released Forward funds totalling
in the Club Benefits Programme and the investments in the USD 727 million, and another USD 352 million from this cycle
Club Protection Programme, but also launched a series of entitlement is on the way to be released to the members.
new programmes, such as VAR and the Football for Schools More information on the release of Forward funds can be
Programme, and also invested in the FIFA Foundation and found on pages 44 to 53. For the long-term development of
many similar initiatives. The remaining 19% was spent on football, FIFA has also committed USD 100 million to the
administrative activities and sales acquisition expenses. Football for Schools Programme, in particular to help boys
and girls in primary schools to play football. Together with
Competitions and Events investments in the Technical Development Programme, the
FIFA dedicated a total of USD 2,566 million to organising the Refereeing Assistance Programme, women’s football
32 FIFA football tournaments and events in this cycle. The promotion, sustainability, the FIFA Foundation, education,
largest part, USD 1,824 million, was spent on the 2018 FIFA audit and financial education, medicine and science and other
World Cup in Russia, which was widely perceived to be the programmes, a total of USD 1,456 million was contributed to
best edition of the tournament to date, and also at noticeably football development and education programmes.

18 | FIFA FINANCIAL REPORT 2018

Sweden players acknowledge
their fans’ support after
defeating Switzerland at
Russia 2018.
2 | 2015-2018 CYCLE IN REVIEW

Football Governance
Looking ahead
Investments in Football Governance amounted to
USD 124 million, mainly dedicated to the services of In 2018, FIFA launched the Digital Transformation &
football governance bodies, comprising the judicial bodies, Innovation Division, dedicated to addressing globalisation
the Players’ Status Committee and the Court of Arbitration and technological changes that are transforming fans’
consumption behaviours in the sport and entertainment
for Sport. It also covered the costs of preventing match
industries.
manipulation through the Early Warning System and
monitoring international player transfers through the FIFA FIFA aims to lead digital transformation & innovation in the
Transfer Matching System. world of sport, executing a new digital strategy by
following four strategic pillars: digital consumer trends,
world football community, data and technology.

Looking ahead

In 2017, the operational set-up of Early Warning System

GmbH and FIFA Transfer Matching System GmbH was Marketing & TV Broadcasting
reviewed and optimised. Therefore, it is expected that USD 211 million was dedicated to the category of Marketing
the expenses in this category will drop in the next & TV Broadcasting. During the 2015-2018 cycle, around 55%
financial cycle. was expensed in 2018, mainly for commercialising marketing
rights, media and TV broadcasting rights for the 2018 FIFA
World Cup Russia™. The huge financial achievement of the
FIFA Governance and Administration 2015-2018 cycle can be attributed to the success in the sale
The expenses for FIFA Governance and Administration totalled of TV broadcasting rights, marketing rights and licensing
USD 797 million. Personnel expenses related to the FIFA rights, which also correspondingly led to the payment of sales
administration as well as to the FIFA Council amounted to agent commission.
USD 253 million. In line with FIFA’s operational strategy, FIFA’s
organisation has been restructured and our workforce
expanded to support insourcing activities in order to achieve
cost reductions in relation to outside consultants and to retain
and develop knowledge and expertise in-house. In this cycle,
four new divisions were established: Compliance, Women’s
Football, Technical Development, and Digital Transformation
& Innovation. The legal structure was also addressed to
achieve higher efficiency, and a number of subsidiaries were
closed and activities merged into FIFA. By the end of 2018,
the number of full-time employees was 813. FIFA also spent
USD 91 million on legal costs related to ongoing investigations
by US and Swiss authorities and other matters. Positively, the
costs in this area fell to less than USD 6 million in 2018,
significantly down from the highest point of USD 50 million in
2016. FIFA also ran a cross-divisional project to replace its IT
platform for event handling. A new, integrated events system
was also launched in time for Russia 2018. Other expenses
related to communications, information technology, the
annual FIFA Congress and various committee meetings,
miscellaneous legal costs, buildings and maintenance and
others.

20 | FIFA FINANCIAL REPORT 2018

 INVESTMENTS/EXPENSES 2015-2018 2015-2018 CYCLE IN REVIEW | 2

2015-2018 EXPENSES (USD MILLION)

FIFA Governance & Administration 797

Communications 95
Information technology 71
Annual FIFA Congress and committees 79
Legal and governance costs 91
Legal costs 41 Marketing & TV Broadcasting 211
Buildings and maintenance 39
Other (audit, insurance, transport and travel, Broadcasting and media rights 45
financial expenses, bad debts expenses, Marketing rights 23
consultancy expenses) 91 Licensing rights 11
Personnel expenses 253 4% Sales commission and other 77
Depreciation of property and equipment 37 Personnel expenses 49
Depreciation of property and equipment 6
15%

Football Governance 124

2%
Football governance bodies and
100% =
third-party services 55
Personnel expenses 63 USD 5,368 million
Depreciation of property and equipment 6 48%

Competitions & Events 2,566

2018 FIFA World Cup Russia™ 1,824
Development & Education 1,670 Other FIFA events 559
31% FIFA Club Protection Programme 106
FIFA Forward 1,079 Personnel expenses 71
Technical development 41 Depreciation of property and equipment 6
Refereeing Assistance Programme (RAP) 34
Football for Schools Programme 100
FIFA World Football Museum 58
Other projects
(women’s football programmes,
education, sustainability, human rights
and anti-discrimination, audit and
financial education, medicine and
science, solidarity projects) 202
Personnel expenses 90
Depreciation of property and equipment 66

EXPENSES SPLIT 2015-2018 (USD MILLION)

2015 2016 2017 2018 TOTAL

Competitions & Events 215 157 219 1,975 2,566

Development & Education 187 428 477 578 1,670
Football Governance 36 32 25 31 124
Total expenses for football activities 438 617 721 2,584 4,360
FIFA Governance & Administration 194 248 165 190 797
Marketing & TV Broadcasting 29 28 37 117 211
Total expenses for administrative activities 223 276 202 307 1,008
TOTAL 661 893 923 2,891 5,368

FIFA FINANCIAL REPORT 2018 | 21

2 | 2015-2018 CYCLE IN REVIEW

BALANCE SHEET AND RESERVES 2015-2018

FIFA’s reserves reach an unprecedented high

The balance sheet as at 31 December 2018 is an accurate In contrast, on the other side of the balance sheet, cash and
reflection of FIFA’s financial situation at the end of the cash equivalents, short-term financial assets and long-term
2015-2018 cycle. financial assets stood at USD 3,596 million, USD 705 million
or 24% up from the previous year. This figure accounts for
82% of FIFA’s total assets.
4,389
Total assets at 31 December 2018 (USD million) These ratios prove that FIFA’s financial position is particularly
strong and sustainable.
3,596 82% of total assets
Cash and financial assets (USD million)
Reserves
2,745 As at 31 December 2018, FIFA’s reserves had reached a new
Reserves (USD million) high of USD 2,745 million, USD 1,222 million or 80% higher
than the level at the end of the 2011-2014 cycle. FIFA’s equity
274% ratio stood at 63%, exceeding previous expectations.
Current ratio (current assets over current liabilities)
Having sufficient reserves puts FIFA in a strong position from
63% a financial and operational perspective, protecting the future
Equity ratio (reserves over total assets)
of the FIFA World Cup, the many other tournaments that FIFA
stages and global football development in general.

As at 31 December 2018, FIFA’s total assets stood at In conclusion, FIFA’s financial position is extremely healthy,
USD 4,389 million, a similar level to the previous year. Once sustainable and strong, with a substantial cash base and
again, and as expected, the balance sheet bore little relation adequate reserves.
to that of 2017: this is because FIFA operates in a four-year
cycle, with the FIFA World Cup™ being the crowning event in
the fourth year and the main source of its income. Having
adopted the IFRS 15 revenue recognition standard, FIFA
shows the majority of its revenue in the final year of the cycle.
Accordingly, contract liabilities relating to the 2018 FIFA
World Cup™ in Russia dropped significantly and total
liabilities fell in lockstep by 53% from USD 3,487 million at
the previous year end down to USD 1,644 million.

22 | FIFA FINANCIAL REPORT 2018

 BAL ANCE SHEET AND RESERVES 2015-2018 2015-2018 CYCLE IN REVIEW | 2

BALANCE SHEET AS AT 31 DECEMBER 2014 VERSUS 31 DECEMBER 2018 (USD MILLION)

4,389 4,389

Current
+50% 1,167 liabilities
2,932 2,932 Non-current
Current 477
3,197 liabilities
assets
Current
1,314 liabilities
Current
assets
2,128
Non-current
95 liabilities 2,745 Reserves

1,523 Reserves Non-current

Non-current
1,192
assets
assets 804

Assets Liabilities Assets Liabilities

and reserves and reserves

As at 31 December 2014 As at 31 December 2018

DEVELOPMENT OF RESERVES 2011-2018 (USD MILLION)

2,745

1,523
1,378 1,432 1,410
1,293
1,048
930

2011 2012 2013 2014 2015 2016 2017 2018

In FIFA’s financial statements for 2011-2014, revenue was recognised according to a proportional timing method. To further strengthen the
transparency of FIFA’s financial statements and to help its stakeholders better understand its financial position, FIFA decided to adopt IFRS 15 –
Revenue from Contracts with Customers – early, for 2015 onwards. Compared to the previous accounting system, the new IFRS 15 standard leads
FIFA to adopt a later pattern of revenue recognition because its flagship tournament, the FIFA World Cup™ – which delivers the majority of
contractual performance obligations – takes place in the final year of the financial cycle.

FIFA FINANCIAL REPORT 2018 | 23

2 | 2015-2018 CYCLE IN REVIEW

ASSET MANAGEMENT 2018

FIFA’s investment portfolio delivers solid

return despite difficult environment
Management Regulations focus on high liquidity, creditworthy
1.95% counterparties and the avoidance of non-market-compliant
Portfolio yield (MTM) above benchmark risks, thus avoiding the pursuit of investments that are
associated with higher risks and increased value fluctuations.
0.66
Modified duration of portfolio The investment portfolio was managed to avoid losses
from the rising yield environment and benefited from
Losses from rising US interest rates avoided the overall interest rate levels. The duration was managed
down even further, allowing the investment portfolio to
again generate a positive risk-adjusted return of 1.95%
Investment in very sound counterparties only
(mark-to-market valuation).

In line with its investment guidelines, FIFA maintained a

2018 was a year with many political headlines and volatile portfolio of very sound counterparties and the average
markets. After a period of steady growth in asset prices, 2018 credit rating was kept well above the minimum allowed. Thus,
proved more of a challenge for investors. Although it saw a investments with a longer date exceeded an average of AA
fiscal stimulus in the USA, the year was also marked by the and almost 100% of the investments in the liquidity portion
escalating US-China trade conflict, the Brexit rollercoaster, of up to 12 months had an average of A-1. At the end of
renewed political problems in the Eurozone and diverse December 2018, the modified duration of the investment
situations in emerging markets. In addition, 2018 saw a portfolio stood at 0.66, at the lower end of the investment
pronounced change in the prevailing economic environment: strategy, and the yield to maturity in the investment portfolio
central banks stepped back from making asset purchases and stood at 2.47% (held-to-maturity valuation).
interest rates started to rise in the USA and other countries.
By consciously managing the duration of the investment
The US economy continued to expand in 2018, boosted by portfolio in a conservative way, FIFA was able to minimise the
President Donald Trump’s tax cuts. Unemployment fell negative impact of the interest rate hike and even
considerably and wage inflation started to rise. All of this and compensate for it through the use of currency markets in
the Federal Reserve pushing up US interest rates contributed conjunction with fixed-rate investments. As a result, FIFA
to persistent upward pressure on yields. The important 3% achieved its overriding investment objective of preserving the
yield level was broken in September and remained above that real value of its financial assets.
figure until early December. USD bondholders had to contend
with increasing rates and widening credit spreads, leading to
Looking ahead
significant market losses. US equity indices ended the year
with a loss, while European indices, measured in euros, also
In October 2018, the FIFA Council approved the updated
suffered heavy deficits.
Financial Asset Management Regulations, allowing FIFA to
invest not only in money market instruments, government
Ultimately, FIFA’s portfolio performed well against its and corporate bonds, but also in equities (maximum 5% of
overriding investment objective, namely the preservation of the total investment portfolio). To mitigate the timing risk,
the real value of FIFA’s financial assets – an objective the implementation will be spread over several months.
underlined by the Finance Committee in October 2018. FIFA’s
investment guidelines were comprehensively revised, albeit
with the same overall aim: the new FIFA Financial Asset

24 | FIFA FINANCIAL REPORT 2018

 ASSET MANAGEMENT 2018 2015-2018 CYCLE IN REVIEW | 2

ASSET MANAGEMENT STRATEGY AND CURRENT STATUS

TOTAL PORTFOLIO PROFILE (OPERATIONAL AND INVESTMENT) BY ASSET CATEGORY (%)

100% Current status (31.12.2018)

Strategy
Range
80%
100% = USD 3,621 million
(fair value as at 31.12.2018)

60%

40%

20%

0%
Liquidity USD USD EUR CHF GBP
bonds inflation- bonds bonds bonds
linked
bonds

DETAILS ON THE CURRENT TOTAL PORTFOLIO (TOTAL PORTFOLIO PROFILE BY COUNTERPARTY)

Other banks/securities System-relevant banks

10% 12%
Securities with goverment guarantee
6%

100% =
USD 3,621 million Swiss cantonal bank deposits/notes
(with public guarantee)
37%
Government and other
public counterparties
35%

FIFA FINANCIAL REPORT 2018 | 25

2 | 2015-2018 CYCLE IN REVIEW

BUDGET COMPARISON 2015-2018

Significant surplus result versus budget

confirms the successful implementation of
FIFA reforms
Besides making a number of improvements to FIFA’s IFRS as USD 1,421 million versus the initial budget as approved by
reporting, in 2017 the governing body also started presenting the 2014 FIFA Congress. Specifically, revenues in 2018 and
all budgets in line with its IFRS reporting in order to further revenues in connection with the 2018 FIFA World Cup Russia™
increase insights and transparency. The existing 2015-2018 accelerated well and contributed to this positive result.
budget that was approved by the 66th FIFA Congress was
accordingly revised and restated for the years 2017 and 2018. The core source of revenue, namely the sale of television
The data for 2015 and 2016 represents actual figures, while broadcasting rights, delivered 49%, followed by marketing
2017 and 2018 are IFRS budgets. The overall budgets for both rights with 26%, and the sale of hospitality rights and ticket
revenue and expenses were maintained. The revised budgets sales with 11%. Revenue from licensing accounted for 9%.
were subsequently ratified by the 67th FIFA Congress. The remaining 5% share of revenue was generated from the
annual FIFA Club World Cup tournament, contributions from
the Olympic Football Tournaments, and other smaller income
streams such as the FIFA Quality Programme and income from
6,421 film and video footage rights.
Record revenue despite early-cycle setbacks (USD million)

+1,421 versus full-cycle initial budget The detailed comparison between the actual recognised
Revenue (USD million) revenue and the budget is shown on the next page.

All revenue categories exceeded expectations Total revenue from television broadcasting rights was
USD 127 million above the budget for the full cycle. In
particular, the successful sales process for the 2018 FIFA
Effective cost containment delivered across all competitions World Cup™ in Russia (including rights in certain Asian
territories) helped this result. Further revenues above budget
+953 versus full-cycle budget were generated from on-site TV production services offered
Result before taxes and financial result (USD million) to Media Rights Licensees, again in relation to the 2018 FIFA
World Cup.

Marketing rights revenues were boosted by a number of

REVENUE 2015-2018 new deals for Russia 2018 during the second half of the cycle.
Despite a tough start to the cycle (in 2015), the successful During 2017 and 2018, agreements were signed with one
implementation of FIFA’s reform process contributed to a FIFA Partner, three FIFA World Cup Sponsors and seven
strong turnaround and to the continuation of additional rights Regional Supporters. Marketing revenue rights outperformed
sales for the remainder of the financial cycle. expectations by USD 210 million, totalling USD 1,660 million
for the full cycle.
The full-cycle revenue budget for 2015-2018 was approved by
the FIFA Congress in 2014, totalling USD 5,000 million, and was The main source of revenue from licensing rights during the
later increased by an additional USD 656 million, which was then four-year cycle came from brand licensing contracts with a
ratified by the Extraordinary FIFA Congress in Zurich in 2016. specified minimum guarantee threshold and royalty payment
scheme. The income received from royalty amounts exceeded
The total revenue for 2015-2018 amounted to USD 6,421 million, the minimum payments, generating a positive difference of
exceeding the budget level by USD 765 million and as much USD 237 million compared to the budget.

26 | FIFA FINANCIAL REPORT 2018

 BUDGET COMPARISON 2015-2018 2015-2018 CYCLE IN REVIEW | 2

Hospitality rights and ticket sales for the 2018 FIFA World Other revenue exceeded the budget by USD 54 million. The
Cup were in high demand and subsequently resulted in a main contributor was the annual FIFA Club World Cup
positive deviation compared to the budget of tournament with USD 123 million for the cycle, a
USD 137 million, in contrast to lower-than-budgeted revenues USD 25 million contribution from the Olympic Football
for the FIFA Confederations Cup Russia 2017. Tournaments, and continued growth in the FIFA Quality
Programme and in film and video rights.
A summary of the Russia 2018 ticketing statistics can be
found on pages 34 and 35.

BUDGET VERSUS ACTUAL (USD MILLION)

Initial Variance to Variance to
Actual Budget 2
budget1 initial budget budget
Revenue from television broadcasting rights 3,127 2,700 427 3,000 127
Revenue from marketing rights 1,660 1,462 198 1,450 210
Revenue from licensing rights 600 198 402 363 237
Revenue from hospitality/accommodation
712 540 172 575 137
rights and ticket sales
Other revenue 322 100 222 268 54
Total revenue 6,421 5,000 1,421 5,656 765
1
Budget approved by the 2014 FIFA Congress
2
Budget approved by the 2016 Extraordinary FIFA Congress

A fan enjoys the match

between Germany and
Sweden at Russia 2018.

FIFA FINANCIAL REPORT 2018 | 27

A Brazil fan catches the
eye during her side’s clash
with Serbia at Russia 2018.
 BUDGET COMPARISON 2015-2018 2015-2018 CYCLE IN REVIEW | 2

EXPENSES 2015-2018 2018 FIFA World Cup Russia came in USD 124 million under
In the 2015-2018 cycle, FIFA further increased its efforts to budget.
develop football via the FIFA Forward Programme by
investing USD 1,079 million, and by organising 29 football Expenses related to FIFA events from previous cycles show the
competitions and four events in 21 different countries. FIFA’s reversal of the contingency provision created during the past
commitment to responsible expenditure management and cycle for USD 57 million.
efficiencies gained by insourcing activities resulted in an
overall saving of USD 188 million compared to budget. Value-in-kind and other describes mainly predetermined
services and the delivery of goods to be used in connection
Expenses under Competitions and Events were below with FIFA tournaments and events. Several in-kind
budget by USD 181 million. The main contribution stemmed contributions have been received and successfully
from the 2018 FIFA World Cup Russia™, which was a incorporated into the operating business activities of FIFA.
great success from an organisational and cost efficiency
point of view. Savings of USD 124 million were achieved The Club Protection Programme returned savings of
across all expenses. In other words, and in contrast to USD 28 million due to a lower-than-expected number of
the experience of many other major sporting events, the incidents and claims related to international “A” matches.

BUDGET VERSUS ACTUAL (USD MILLION)

Budget Actual Variance to budget

COMPETITIONS & EVENTS 2,747 2,566 181

2018 FIFA World Cup Russia™ 1,948 1,824 124
Other FIFA Events 600 559 41
FIFA U-20 Women’s World Cup France 2018 17 13 4
FIFA U-17 Women’s World Cup Uruguay 2018 19 10 9
Youth Olympic Futsal Tournaments Buenos Aires 2018 1 1 0
FIFA Confederations Cup Russia 2017 153 143 10
FIFA U-20 World Cup Korea Republic 2017 24 18 6
FIFA U-17 World Cup India 2017 18 21 –3
FIFA Beach Soccer World Cup Bahamas 2017 7 10 –3
FIFA U-20 Women’s World Cup Papua New Guinea 2016 19 19 0
FIFA U-17 Women’s World Cup Jordan 2016 17 19 –2
FIFA Futsal World Cup Colombia 2016 13 13 0
Olympic Football Tournaments Rio 2016 10 10 0
FIFA Women’s World Cup Canada 2015™ 83 82 1
FIFA U-20 World Cup New Zealand 2015 27 26 1
FIFA U-17 World Cup Chile 2015 24 25 –1
FIFA Beach Soccer World Cup Portugal 2015 7 7 0
FIFA Club World Cup 86 84 2
FIFA Interactive World Cup/FIFA eWorld Cup 2018™ 12 14 –2
FIFA Ballon d’Or/The Best FIFA Football Awards 22 22 0
Blue Stars/FIFA Youth Cup 4 4 0
FIFA events from previous cycles 4 -57 61
Value in kind and other 33 75 –42
FIFA Club Protection Programme 134 106 28
Personnel expenses 58 71 –13
Depreciation of property and equipment 7 6 1

FIFA FINANCIAL REPORT 2018 | 29

2 | 2015-2018 CYCLE IN REVIEW

Development and Education expenses were slightly over the cycle stood at a total of USD 727 million (more details can
budget due to the FIFA Council decision to launch the Football be found on page 44). The remaining balance of the FIFA
for Schools Programme. With this programme, FIFA has pledged Forward funds related to the 2015-2018 cycle will be available
to unlock young people’s potential first and develop children’s for the member associations and confederations to claim until
football skills second by providing fun games for competition the end of the year 2020.
and individual and collective challenges. More information on
this new programme can be found on page 54. At the end of the 2015-2018 cycle, there were savings across
the Development and Education programmes, which were
Since the launch of the FIFA Forward Programme in 2016, reinvested in the Football for Schools Programme.
FIFA has invested a total amount of USD 1,079 million in
football development. There has been no deviation from the The FIFA World Football Museum also continuously
budget, with the exception of the 2016 travel & equipment improved its efficiency during the cycle, obtaining net savings
funds included in the year 2017 with an additional investment on operational costs of USD 22 million.
of USD 27 million. Payout for the programme at the end of

Budget Actual Variance to budget

DEVELOPMENT & EDUCATION 1,650 1,670 –20

FIFA Forward Programme 1,052 1,079 –27
Technical development programmes 54 41 13
Other projects 55 28 27
Refereeing Assistance Programme (RAP) 39 34 5
Women’s football promotion 28 24 4
Sustainability, human rights and anti-discrimination 27 16 11
FIFA Foundation 0 4 –4
Education 20 19 1
Medicine and Science 16 11 5
Solidarity projects 14 6 8
Audit and financial education 11 9 2
Football for Schools Programme 0 100 –100
FAP/Goal/MA programmes 119 85 34
FIFA World Football Museum 80 58 22
Personnel expenses 80 90 –10
Depreciation of property and equipment 41 52 –11
Impairment of property and equipment 14 14 0

Expenses for Football Governance were kept under control System, and after redesigning and insourcing the Transfer
during the 2015-2018 cycle, reflecting savings due to the Matching System.
efficiencies gained after externalising the FIFA Early Warning

Budget Actual Variance to budget

FOOTBALL GOVERNANCE 136 124 12

Football governance bodies and third-party services 62 55 7
Personnel expenses 67 63 4
Depreciation of property and equipment 7 6 1

30 | FIFA FINANCIAL REPORT 2018

 BUDGET COMPARISON 2015-2018 2015-2018 CYCLE IN REVIEW | 2

FIFA Governance and Administration reflected savings An important focus was also given to the restructuring of the
across all departments in charge of governing FIFA. Cost IT Subdivision, which delivered savings over the four-year
savings were achieved after the reorganisation of the cycle of USD 9 million. Furthermore, FIFA has invested in new
Communications Division, after optimising the structure of information technology applications in the shape of an event
the FIFA Congress and committee meetings, and also in the planning tool and an enterprise resource planning (ERP)
areas of personnel expenses, buildings and maintenance. solution, for which the investments were capitalised.

Budget Actual Variance to budget

FIFA GOVERNANCE & ADMINISTRATION 891 797 94

Legal and governance costs related to investigations 92 91 1
Annual FIFA Congress & committees 104 79 25
Communications 107 95 12
Information technology 80 71 9
Buildings and maintenance 49 39 10
Legal costs 52 41 11
Other 107 91 16
Personnel expenses 262 253 9
Depreciation of property and equipment/investment properties 30 29 1
Impairment of investment properties 8 8 0

The expenses for commercialising FIFA’s Marketing & TV previous cycles as a revenue deduction and now it is
Broadcasting rights reflect the adoption of IFRS 15, transparently shown as an expense. The sales commission
disclosing the sales commission separately for a total of mainly related to agent fees for commercialising the
USD 77 million in the expenses. This line item was shown in marketing and TV broadcasting rights.

Budget Actual Variance to budget

MARKETING & TV BROADCASTING 132 211 –79

Broadcasting and media rights 46 45 1
Marketing rights 16 23 –7
Licensing rights 14 11 3
Sales commission and other 4 77 –73
Personnel expenses 45 49 –4
Depreciation of property and equipment 7 6 1

FIFA FINANCIAL REPORT 2018 | 31

France captain Hugo Lloris lifts
the FIFA World Cup Trophy.
 Revenue 34

Expenses 36

FINANCIAL OVERVIEW 3
OF THE 2018 FIFA
WORLD CUP RUSSIA™
3 | FINANCIAL OVERVIEW OF THE 2018 FIFA WORLD CUP RUSSIA™

REVENUE

Russia 2018 generates highest revenues

in FIFA’s history and is most profitable
edition to date
The 2018 FIFA World Cup Russia™ was widely regarded as The total number of people who attended matches was
the best edition of the tournament to date, a statement that 3,031,768. Fans came from all over the world, including FIFA’s
is also supported by the financial result. All revenue categories member associations and Commercial Affiliates as well as all
(TV broadcasting rights, marketing rights, licensing rights, other members of the FIFA community.
hospitality rights and ticket sales) exceeded their budget
targets and contributed to the highest revenue for a FIFA More than ten million tickets were requested across all
World Cup™ in FIFA’s history. As well as record revenues, customer groups. Some 99.5% were sold from the
the financial result of the tournament also set a new all-time purchasable inventory, equating to 2,745,357 tickets, while
high, thanks to the outstanding sales and excellent cost 34 of the 64 matches completely sold out.
monitoring of the World Cup project. The reported revenue
of USD 5,357 million covers the full 2015-2018 financial cycle. Demand from the general public for the 2018 FIFA World Cup
Russia was impressively high. Some 70% of the purchasable
inventory, or close to two million tickets, were sold directly to
5,357 the general public, including 52% to Russian residents.
Revenue from the FIFA World Cup (USD million) Participating member associations bought 14% for their
supporters, while 6% were sold to hospitality ticket holders
83% and 5% to FIFA Commercial Affiliates.
FIFA World Cup revenue as % of total revenue
FIFA fully met its commitment to make at least 350,000
1,824
category 4 tickets available to Russian residents – a total of
Total investment in the FIFA World Cup (USD million)
407,904 tickets (15%) were sold to this customer group across
3,533 all 64 matches. FIFA also sold 45,893 tickets at reduced prices
Surplus from the FIFA World Cup (USD million) for seats with a partially restricted view of the pitch, which
were offered exclusively to Russian residents.

REVENUE In view of the importance and sensitivity of the ticketing

The sale of rights related to the FIFA World Cup makes up the operation, a comprehensive and independent review was
lion’s share of FIFA’s revenues for all revenue categories. performed by a reputable audit firm in order to provide
However, most categories also include revenue shares related reassurance that FIFA’s internal control framework was
to other FIFA events (e.g. the FIFA Women’s World Cup™) or followed at all times. This included the following areas:
non-event-related rights (e.g. the FIFA brand). An overall integrity of ticket sales reporting, compliance with FIFA’s
analysis of FIFA’s revenue streams is available on page 16 of ticketing policy, and controls related to operations. According
this report. to the assigned audit company, there were no findings or
cases of non-compliance.
Ticketing
The ticketing programme for the 2018 FIFA World Cup Hospitality
achieved an average of 98.2% stadium occupancy and was After a slow start, sales for the 2018 FIFA World Cup
once more a very strong result, making Russia 2018 one of Hospitality Programme in Russia greatly improved and close to
the most successful FIFA World Cup tournaments in recent 172,000 packages were sold by the end of the tournament
history from this perspective. (across all hospitality products). A quarter of all packages

34 | FIFA FINANCIAL REPORT 2018

 REVENUE FINANCIAL OVERVIEW OF THE 2018 FIFA WORLD CUP RUSSIA™ | 3

were sold to the Russian host market, with hospitality Match Hospitality AG acquired the rights to sell and operate
products also in high demand in Mexico, China, Argentina, the 2018 FIFA World Cup Russia™ Hospitality Programme.
USA, Brazil and the United Kingdom. The Luzhniki and Saint FIFA has mandated a well-known audit company to review
Petersburg Stadiums were the most attractive venues with a the financial statements of Match Hospitality AG, including
sales contribution of nearly three quarters. the profit share calculation.

TICKET SALE BY SEAT CATEGORY

1% Sky Boxes

Obstructed view 1% 1% Other

Category 4
15%

Category 1
37%
100% =
2,745,357
Category 3 tickets
24%

21% Category 2

TICKET SALES BY CUSTOMER GROUP

Other
Commercial Affiliates

5%
5%
Hospitality
6%

Participating member associations

14% 100% =
2,745,357
tickets

General public
70%

FIFA FINANCIAL REPORT 2018 | 35

3 | FINANCIAL OVERVIEW OF THE 2018 FIFA WORLD CUP RUSSIA™

EXPENSES Local Organising Committee

A revised expense budget of USD 1,948 million for the 2018 The LOC was assigned to implement all local operational
FIFA World Cup was approved by the FIFA Congress in 2017 aspects of the 2018 FIFA World Cup. The approved budget for
(the initial budget was approved in 2014). The total actual the LOC amounted to USD 627 million, including the 2018
costs amounted to USD 1,824 million, thus achieving cost FIFA World Cup and costs for the related draws as well as the
savings of USD 124 million. Although the 2018 FIFA World functional budgets for 2011 to 2018 and excluding the FIFA
Cup™ Legacy Fund commitment was not budgeted initially Confederations Cup 2017. The latter budgets consisted mainly
since it was linked to the successful delivery of the of expenses for LOC personnel and other overhead costs such
tournament, this contribution to the Russian football as rent and IT infrastructure. Funding of the LOC was covered
community is included in the above figure for total actual costs. entirely by FIFA.

The major cost item was the financial contribution to the The LOC’s actual expenses were USD 383 million (excluding
2018 FIFA World Cup™ Local Organising Committee (LOC), the FIFA Confederations Cup 2017), delivering cost savings of
which amounted to USD 383 million. USD 244 million. Major savings were achieved in the areas of
transport (air and ground), IT & telecoms and security as well
In addition, USD 400 million in prize money was paid to the as in the functional budgets, which started in 2011.
participating member associations, an increase of 11%
compared to the 2014 FIFA World Cup™. On top of that, The wind-down phase of the LOC is in progress and
USD 48 million was paid to the teams in 2017 in order to proceeding according to plan.
cover their preparation costs.
The LOC’s headcount was reduced from its peak figure of
1,374 (including temporary staff) to 26 as at 1 January 2019.
400 The remaining staff are working to ensure that the
Prize money for 2018 FIFA World Cup (USD million) organisation winds down smoothly and to fulfil certain
government obligations. The estimated post-tournament
209 +USD 139 million versus 2014 edition costs are already included in the expenses for the 2018 FIFA
Contribution to clubs in 2018 (USD million) World Cup. The LOC costs for 2018 are provisional and the
accounts remain subject to audit.

However, it was not only member associations that benefited

from the FIFA World Cup: a total of USD 209 million was
shared with the clubs of the participating players under the
Club Benefits Programme, compared to USD 70 million in
2014. An amount of USD 8,530 per player per day was paid
to the clubs so that they could benefit from the success of the
FIFA World Cup.

HEADCOUNT OF THE 2018 FIFA WORLD CUP™ LOCAL ORGANISING COMMITTEE

1,374

577
298
136
71 26

2014 2015 2016 2017 2018 2019

36 | FIFA FINANCIAL REPORT 2018

 EXPENSES FINANCIAL OVERVIEW OF THE 2018 FIFA WORLD CUP RUSSIA™ | 3

EXPENSES FOR THE 2018 FIFA WORLD CUP™ (USD MILLION)

Tournament costs 784

TV production 239
LOC operations 383
Post-tournament costs 182
Operating expenses 80
21%
Ticketing solution 57
Legal 54
IT solution 44
Team accommodation 34
Preliminary competitions 27 43% 100% =
Event insurance 21 USD 1,824 million
Hospitality Village 15 Contributions
Refereeing matters 13 to member associations 448
Team travel 10
Prize money 400
FIFA Fan Fest 3 25%
Perimeter boards 2 Preparation money 48
Competition result system 2
Local office 1

11%
Club Benefits Programme 209

PRIZE MONEY FOR THE 2018 FIFA WORLD CUP™ (USD MILLION)

Position Teams Prize money

Champions France 38
Runners-up Croatia 28
Third place Belgium 24
Fourth place England 22
5th-8 th place Brazil, Russia, Sweden, Uruguay (each) 16
th th
9 -16 place Argentina, Colombia, Denmark, Japan, Mexico, Portugal, Spain, Switzerland (each) 12
Australia, Costa Rica, Egypt, Germany, Iceland, IR Iran, Korea Republic, Morocco,
17th-32nd place 8
Nigeria, Panama, Peru, Poland, Saudi Arabia, Senegal, Serbia, Tunisia (each)
TOTAL 400

PRIZE MONEY FOR THE FIFA CONFEDERATIONS CUP 2017 (USD MILLION)

Position Teams Prize money

Champions Germany 4.1

Runners-up Chile 3.6
Third place Portugal 3
Fourth place Mexico 2.5
5th-8 th place Australia, Cameroon, New Zealand, Russia (each) 1.7
TOTAL 20

FIFA FINANCIAL REPORT 2018 | 37

Mexican players celebrate after beating
Ghana in the quarter-finals of the FIFA
U-17 Women’s World Cup Uruguay 2018.
Summary of FIFA’s investments in football 40

FIFA Forward Programme – 2016-2018 44

FIFA Football for Schools Programme 54
Increased contributions to the
FIFA Women’s World Cup France 2019™ 56

FIFA Club Protection Programme 58

INVESTMENTS 4
IN FOOTBALL
4 | INVESTMENTS IN FOOTBALL

SUMMARY OF FIFA’S INVESTMENTS IN FOOTBALL

Football investment higher than ever in

2015-2018 cycle
As world football’s governing body, FIFA has an obligation to FIFA invested USD 1,670 million in global football
invest as much as of its revenue in the game as possible. Its development through various football development and
flagship tournament, the FIFA World Cup™, generates education programmes. The main projects launched in the
passion and emotion in every player and fan around the world 2015-2018 cycle were:
– but it also achieves outstanding financial success. The 2018 • The FIFA Forward Programme, through which FIFA
FIFA World Cup Russia™ generated the highest revenues in committed a total of USD 1,079 million for football
FIFA’s history, providing a solid financial foundation on which development to support its 211 member associations, the
to stage high-quality tournaments and further strengthen the six confederations and the zonal/regional associations (for
development of football throughout the world. details, please see page 44).
• The FIFA Football for Schools Programme, in which
The revenue generated by the 2018 FIFA World Cup Russia FIFA invested USD 100 million to benefit over 700 million
was USD 5,357 million. Together with revenue of children across the world (for details, please see page 54).
USD 1,064 million delivered by other tournaments and events,
other licensing rights and other revenue, the total revenue of
Looking ahead
the 2015-2018 cycle amounted to USD 6,421 million. Some
81% of the full-cycle investments was invested across the The FIFA Congress 2018 approved a significant increase
entire football community. This section provides a full of USD 667 million for the Forward 2.0 Programme,
overview of FIFA’s development model and shows how FIFA which will boost the total investment under Forward to
has redistributed its substantial revenue back into the game. USD 1,746 million in the 2019-2022 cycle.

For the benefit of football fans around the globe, FIFA

invested USD 2,566 million in the organisation of 32 football In line with its Statutes, FIFA invested USD 124 million in
tournaments and events in the 2015-2018 cycle, in football governance, covering the costs of the judicial
particular the 2018 FIFA World Cup Russia. Of this investment: bodies, services aimed at preventing match manipulation,
• USD 448 million was awarded to the 32 participating monitoring the international player transfer system and other
member associations of the 2018 FIFA World Cup™ matters.
• Another USD 1,167 million was invested to organise the
2018 FIFA World Cup Russia. Thanks to the success of the 2018 FIFA World Cup Russia and
• USD 315 million was distributed to football clubs through continued cost containments in relation to FIFA’s administrative
the Club Benefits Programme (USD 209 million) and tasks, the 2015-18 cycle saw not only a successful FIFA World
the Club Protection Programme (USD 106 million, see Cup in Russia but also a record investment in football
page 58 for more details). development across the globe, with a strong focus on impact
• The remaining USD 636 million was invested in FIFA’s and transparency. By the end of 2018, FIFA’s reserves had
31 other tournaments and events. risen to a high of USD 2,745 million to cater for unforeseen
risks and for future distribution.

40 | FIFA FINANCIAL REPORT 2018

 SUMMARY OF FIFA’S INVESTMENTS IN FOOTBALL INVESTMENTS IN FOOTBALL | 4

Revenue from
other FIFA tournaments 1,064

SOURCE OF REVENUE
17%

100% =
USD 6,421 million

Revenue from the 2018

FIFA World Cup Russia™ 5,357
83%

Administration activities 1,008

USE OF REVENUE
16% Development and education
1,670
26%

Surplus* attributed to reserves

for future investments 1,053 100% =
16% USD 6,421 million

Football governance 124 2%

Competitions and events

40% 2,566

Total investments 4,360

211 Member associations
6 Confederations
13 Zonal/regional associations
BENEFICIARIES

Participating clubs
Surplus* attributed
to reserves for
future investments 1,053

* before taxes and financial result

All figures in USD million

FIFA FINANCIAL REPORT 2018 | 41

Switzerland’s Steven Zuber
wheels away in joy after
equalising against Brazil at
the 2018 FIFA World Cup™.

42 | FIFA FINANCIAL REPORT 2018

 SUMMARY OF FIFA’S INVESTMENTS IN FOOTBALL INVESTMENTS IN FOOTBALL | 4

INVESTMENTS IN FIFA TOURNAMENTS AND EVENTS 2015-2018 (USD MILLION)

4 15

16
2
1
19
7
5 14
8
11
13
18
17

10

12

9
6
21
20
3

2015 USD million 2017 USD million

1 Blue Stars/FIFA Youth Cup, Zurich, SUI 1.1 13 FIFA Beach Soccer World Cup Bahamas 9.9
2 FIFA Interactive World Cup, Munich, GER 2.3 14 FIFA U-20 World Cup Korea Republic 18.4
3 FIFA U-20 World Cup New Zealand 25.7 1 Blue Stars/FIFA Youth Cup, Zurich, SUI 1
4 FIFA Women’s World Cup Canada 82 15 FIFA Confederations Cup Russia 143.2
5 FIFA Beach Soccer World Cup Portugal 7.3 16 FIFA Interactive World Cup, London, GBR 3.6
6 FIFA U-17 World Cup Chile 24.6 17 FIFA U-17 World Cup India 20.6
7 FIFA Club World Cup Japan 20.9 16 The Best FIFA Football Awards, London, GBR 4.7
1 FIFA Ballon d’Or, Zurich, SUI 5.3 18 FIFA Club World Cup UAE 20.1

2016 USD million 2018 USD million

8 FIFA Interactive World Cup, New York, USA 2.8 1 Blue Stars/FIFA Youth Cup, Zurich, SUI 0.9
1 Blue Stars/FIFA Youth Cup, Zurich, SUI 1.1 15 FIFA World Cup Russia 1,824.1
9 Olympic Football Tournaments Rio, BRA 10.1 16 FIFA Interactive World Cup, London, GBR 5
10 FIFA Futsal World Cup Colombia 13.4 19 FIFA U-20 Women’s World Cup France 13.1
11 FIFA U-17 Women’s World Cup Jordan 18.9 16 The Best FIFA Football Awards, London, GBR 7.1
12 FIFA U-20 Women’s World Cup Papua New Guinea 18.8 20 Youth Olympic Futsal Tournaments, Buenos Aires, ARG 1.4
7 FIFA Club World Cup Japan 20.7 21 FIFA U-17 Women’s World Cup Uruguay 10.3
1 The Best FIFA Football Awards, Zurich, SUI 4.5 18 FIFA Club World Cup UAE 22.4

FIFA FINANCIAL REPORT 2018 | 43

4 | INVESTMENTS IN FOOTBALL

FIFA FORWARD PROGRAMME – 2016-2018

Over 77% of Forward funds committed

in the 2015-2018 cycle
Through the Forward Programme, FIFA shares the success of and USD 26 million to zonal/regional associations. The
the FIFA World Cup™ with its 211 member associations, as unreleased Forward funds amounted to USD 352 million,
well as with the six confederations and the zonal/regional however, over USD 100 million of that has been approved and
associations, and also helps every football-loving girl and boy, committed to projects and activities already underway.
woman and man in the world play football in the best
possible conditions. These committed and unpaid funds will continue to be released
progressively in accordance with the agreed milestone payments
1,079 and pending successful demonstration of the continued delivery
Investment dedicated to Forward for the 2016-2018 period of projects. According to the FIFA Forward 2.0 regulations
(USD million) approved by the FIFA Council in October 2018, funds allocated
to member associations and confederations (including funds for
727 zonal/regional associations) in the 2015-2018 cycle and which
Forward funds released by the end of 2018 (USD million) have not been used should be accrued until 31 December 2020.
1,777
Forward applications approved by the end of 2018

1,746 Looking ahead: FIFA Forward 2.0 in the 2019-2022 cycle

Investments dedicated to Forward for the 2019-2022 cycle
(USD million) The financial success of the 2018 FIFA World Cup Russia™
has provided FIFA with strong financial resources to enable it
to redistribute its income back into football through
Since the launch of the programme in 2016, FIFA has released investment under the FIFA Forward Programme. In
Forward funds in the amount of USD 727 million to support accordance with three crucial principles of the Forward
the development not only of its member associations, but Programme – more investment, more impact and more
also of the six confederations and the zonal/regional oversight – FIFA has increased the Forward funds by
associations. The disclosure of the Forward payments in a USD 667 million to a total of USD 1,746 million for the
2019-2022 cycle. Furthermore, the Forward Programme has
transparent overview is an important part of the FIFA Financial
been fine-tuned and now includes the following entitlements:
Report. Full details are shown in the tables on page 46.
- Each member association will receive up to
USD 6 million for the four-year cycle for operational/
FIFA Forward in the 2015-2018 cycle running costs and specific projects.
In the 2015-2018 cycle, FIFA received 1,978 funding - Each confederation will receive USD 48 million for the
applications related to the FIFA Forward Programme, 1,777 four-year cycle.
of which were approved. The approved applications included - A total budget of USD 62 million will be available to the
941 cases for tailor-made projects, 576 for operational costs, zonal/regional associations. Each zonal/regional
and 260 for travel and equipment costs. Of these 941 approved association must organise at least five youth and
project-related applications, 696 cases were for projects with women’s competitions per year.
a budget of less than USD 300,000, with the remaining 245 - USD 130 million will be available to the member
associations that are eligible for travel and equipment
for projects with a budget of USD 300,000 or more.
funding.

The investment dedicated to the Forward Programme in the For more information on the detailed policies of the FIFA
2015-2018 cycle totalled USD 1,079 million. By the end of Forward Programme in the 2019-2022 cycle, please refer
2018, USD 832 million or 77% had been approved and to the FIFA Forward 2.0 regulations.
committed, with USD 727 million having been released to the
programme’s subscribers as follows: USD 523 million to the
member associations, USD 178 million to the confederations,

44 | FIFA FINANCIAL REPORT 2018

 FIFA FORWARD PROGRAMME – 2016-2018 INVESTMENTS IN FOOTBALL | 4

DEDICATED ENTITLEMENTS OF FIFA FOOTBALL DEVELOPMENT PROGRAMMES IN

THE 2011-2014, 2015-2018 AND 2019-2022 CYCLES (USD MILLION)
1,746

Forward 2.0
437
Forward 1.0
FAP
1,161
437
364

436
391

328
82 324
82 436
82
82 82
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

For the 2011-2014 cycle, FIFA’s dedicated football development Forward not only increased development funds but also
programmes included entitlements of USD 328 million. These funds strengthened their impact, owing to far stricter control on how
benefited both FIFA member associations and confederations. the funds are spent, with a view to ensuring that they really are
Other development funds were allocated to member associations deployed for the development of football.
on an ad hoc basis, with investment in around 30 development
projects globally per year. In fact, looking at the FIFA Forward Programme that was
introduced in 2016, this actually represents, on an annual basis,
For the 2015-2018 cycle, and for broadly the same beneficiaries, an effective fourfold increase in FIFA’s football development
FIFA’s spending on football development amounted to entitlements (together with these robust controls).
USD 1,079 million via the new FIFA Forward Programme and
USD 82 million under the previous Financial Assistance For the 2019-2022 cycle, FIFA will be spending USD 1,746 million on
Programme (FAP). football development, again with an even further improved and
carefully managed system of monitoring and control in place.

OVERVIEW OF 2016-2018 FORWARD FUNDING BY CATEGORY (USD MILLION)

Entitlements 2016-2018 (USD 1,079 million)

67% released funds (USD 727 million)

297 77% committed funds (USD 832 million)

270 6

475 89 180
2
317 291
181 59 180 178
8
81
51 26 26
Project funding Operational funding Travel and
equipment funding
MEMBER ASSOCIATIONS CONFEDERATIONS ZONAL/REGIONAL
ASSOCIATIONS

FIFA FINANCIAL REPORT 2018 | 45

4 | INVESTMENTS IN FOOTBALL

FIFA FORWARD ENTITLEMENTS 2016-2018 CYCLE (USD THOUSAND)

Associations Entitlement 2016 Entitlement 20171 Entitlement 20181 Total cycle

Member associations
Project funding 158,250 158,250 158,250 474,750
Operational funding 105,500 105,500 105,500 316,500
Travel and equipment funding 0 54,250 27,125 81,375
Confederations 60,000 60,000 60,000 180,000
Zonal/regional associations 0 13,000 13,000 26,000
Total Forward funding 323,750 391,000 363,875 1,078,625

FIFA FORWARD FUNDS TO MEMBER ASSOCIATIONS (USD THOUSAND)

Entitlement Total Forward Total percentage of

2016-2018 funds released funds released
Project costs 474,750 181,523 38%
Operational costs 316,500 290,893 92%
Equipment and travel costs 81,375 51,057 63%
Total 872,625 523,473 60%

FIFA FORWARD FUNDS TO CONFEDERATIONS (USD THOUSAND)

Entitlement Total Forward Total percentage of

Confederation 2016-2018 funds released funds released2
AFC 30,000 30,000 100%
CAF 30,000 30,000 100%
Concacaf 30,000 30,000 100%
CONMEBOL 30,000 29,429 98%
OFC 30,000 28,133 94%
UEFA 30,000 30,000 100%
Total 180,000 177,562 99%

FIFA FORWARD FUNDS TO ZONAL/REGIONAL ASSOCIATIONS (USD THOUSAND)

Confederation of Entitlement Total Forward Total percentage of

zonal/regional associations 2016-2018 funds released funds released

AFC 10,000 10,000 100%

CAF 12,000 12,000 100%
Concacaf 4,000 4,000 100%
Total 26,000 26,000 100%

1
The amount of Forward funds to which member associations and confederations are entitled are also shown under Note 7 “Development & Education” (page 91).
2
Remaining balance will be released in Q1 2019 after completing activities and projects approved in 2016-2018.

46 | FIFA FINANCIAL REPORT 2018

 FIFA FORWARD PROGRAMME – 2016-2018 INVESTMENTS IN FOOTBALL | 4

Forward funds released (TUSD)

Entitlement Percentage
2016-2018 3 Project Operational Equipment and of funds
(TUSD) costs costs travel costs Total 4
released

Afghanistan 4,445 2,242 1,500 695 4,437 100%

Australia 3,750 750 1,500 0 2,250 60%
Bahrain 4,376 1,207 1,500 625 3,331 76%
Bangladesh 4,445 621 1,500 184 2,305 52%
Bhutan 4,445 1,380 1,500 85 2,965 67%
Brunei Darussalam 4,425 623 1,500 0 2,123 48%
Cambodia 4,445 1,016 1,500 610 3,126 70%
China PR 3,851 0 1,500 50 1,550 40%
Chinese Taipei 4,376 289 1,500 0 1,789 41%
Guam 4,376 704 1,500 625 2,829 65%
Hong Kong 4,376 984 1,500 575 3,059 70%
India 3,900 1,341 1,500 75 2,916 75%
Indonesia 4,445 1,175 1,500 202 2,877 65%
IR Iran 3,851 648 1,086 100 1,834 48%
Iraq 4,425 0 1,250 525 1,775 40%
Japan 3,750 2,025 1,500 0 3,525 94%
Jordan 4,376 2,250 1,500 625 4,375 100%
Korea DPR 4,376 0 247 0 247 6%
Korea Republic 3,851 938 1,500 0 2,438 63%
Kuwait 4,425 254 1,089 0 1,343 30%
Kyrgyz Republic 4,425 1,527 1,500 675 3,702 84%
Laos 4,445 845 1,500 610 2,955 66%
Lebanon 4,425 1,247 1,500 600 3,347 76%
Macau 4,376 2,250 1,500 525 4,275 98%
Malaysia 3,900 1,202 1,500 0 2,702 69%
Maldives 4,425 423 1,500 231 2,154 49%
Mongolia 4,425 715 1,500 675 2,890 65%
Myanmar 4,376 0 1,500 531 2,031 46%
Nepal 4,445 761 1,500 170 2,431 55%
Oman 4,425 453 1,500 661 2,614 59%
Pakistan 3,920 0 1,500 0 1,500 38%
Palestine 4,376 1,558 1,500 625 3,683 84%
Philippines 4,425 595 1,500 600 2,695 61%
Qatar 3,851 0 594 0 594 15%

3
The amount of Forward funds to which each member association is entitled varies, with some member associations also eligible for travel and equipment solidarity
funding (e.g. those that need the most assistance or are geographically isolated).
4
Those member associations under sanction or suspension are not eligible to receive Forward funds.

FIFA FINANCIAL REPORT 2018 | 47

4 | INVESTMENTS IN FOOTBALL

Saudi Arabia 3,851 0 0 0 0 0%

Singapore 4,376 227 1,500 525 2,252 51%
Sri Lanka 4,425 150 1,350 0 1,500 34%
Syria 4,445 0 0 0 0 0%
Tajikistan 4,445 1,940 1,500 695 4,135 93%
Thailand 3,851 983 1,500 84 2,566 67%
Timor-Leste 4,445 0 789 0 789 18%
Turkmenistan 4,425 0 903 675 1,578 36%
United Arab Emirates 3,851 325 1,500 94 1,920 50%
Uzbekistan 4,376 0 1,318 170 1,488 34%
Vietnam 3,851 1,289 1,500 50 2,839 74%
Yemen 4,445 0 21 0 21 0%
Total 195,721 34,937 59,647 13,171 107,755 55%

Forward funds released (TUSD)

Entitlement Percentage
2016-2018 3 Project Operational Equipment and of funds
(TUSD) costs costs travel costs Total 4
released

Algeria 3,900 250 1,250 0 1,500 38%

Angola 4,445 0 606 144 750 17%
Benin 4,445 150 1,445 525 2,120 48%
Botswana 4,425 1,618 1,500 525 3,643 82%
Burkina Faso 4,445 0 1,500 610 2,110 47%
Burundi 4,445 963 1,500 525 2,988 67%
Cameroon 3,900 381 1,135 0 1,516 39%
Cape Verde Islands 4,445 481 1,493 279 2,253 51%
Central African Republic 4,445 855 1,500 695 3,050 69%
Chad 4,445 634 1,500 525 2,659 60%
Comoros 4,445 149 1,500 525 2,174 49%
Congo 4,445 516 1,500 525 2,541 57%
Congo DR 4,445 0 1,500 0 1,500 34%
Côte d’Ivoire 3,900 1,037 307 0 1,344 34%
Djibouti 4,445 1,278 1,500 525 3,303 74%
Egypt 4,445 1,925 1,000 350 3,275 74%
Equatorial Guinea 4,425 1,049 1,500 0 2,549 58%
Eritrea 4,445 0 1,497 525 2,022 45%
Eswatini 4,445 916 1,500 525 2,941 66%

3
The amount of Forward funds to which each member association is entitled varies, with some member associations also eligible for travel and equipment solidarity
funding (e.g. those that need the most assistance or are geographically isolated).
4
Those member associations under sanction or suspension are not eligible to receive Forward funds.

48 | FIFA FINANCIAL REPORT 2018

 FIFA FORWARD PROGRAMME – 2016-2018 INVESTMENTS IN FOOTBALL | 4

Ethiopia 4,445 500 1,070 525 2,095 47%

Gabon 4,425 92 1,500 0 1,592 36%
Gambia 4,445 798 1,500 525 2,823 64%
Ghana 3,900 0 1,500 0 1,500 38%
Guinea 4,445 0 1,000 0 1,000 23%
Guinea-Bissau 4,445 0 666 525 1,191 27%
Kenya 4,445 2,107 1,500 695 4,302 97%
Lesotho 4,445 0 1,500 221 1,721 39%
Liberia 4,445 0 1,275 525 1,800 40%
Libya 4,425 0 450 0 450 10%
Madagascar 4,445 374 1,500 525 2,399 54%
Malawi 4,445 1,402 1,500 695 3,597 81%
Mali 4,445 0 1,500 0 1,500 34%
Mauritania 4,445 1,481 1,500 525 3,506 79%
Mauritius 4,425 1,130 1,500 525 3,155 71%
Morocco 4,425 0 250 0 250 6%
Mozambique 4,445 269 1,500 525 2,294 52%
Namibia 4,425 1,217 1,500 525 3,242 73%
Niger 4,445 400 1,500 575 2,475 56%
Nigeria 3,900 0 0 0 0 0%
Rwanda 4,445 900 1,500 525 2,925 66%
São Tomé and Príncipe 4,445 139 1,500 0 1,639 37%
Senegal 4,425 110 1,500 0 1,610 36%
Seychelles 3,900 742 1,500 150 2,392 61%
Sierra Leone 4,445 290 1,050 251 1,590 36%
Somalia 4,445 221 1,500 0 1,721 39%
South Africa 4,425 855 1,266 350 2,471 56%
South Sudan 4,445 0 800 502 1,302 29%
Sudan 4,445 0 642 0 642 14%
Tanzania 4,445 0 1,044 268 1,313 30%
Togo 4,445 0 1,500 525 2,025 46%
Tunisia 4,376 192 1,490 525 2,207 50%
Uganda 4,445 913 1,500 525 2,938 66%
Zambia 4,425 0 1,500 0 1,500 34%
Zimbabwe 4,445 0 1,500 525 2,025 46%
Total 236,472 26,333 69,237 17,860 113,430 48%

FIFA FINANCIAL REPORT 2018 | 49

4 | INVESTMENTS IN FOOTBALL

Forward funds released (TUSD)

Entitlement Percentage
2016-2018 3 Project Operational Equipment and of funds
(TUSD) costs costs travel costs Total 4 released

Anguilla 3,900 130 1,500 0 1,630 42%

Antigua and Barbuda 3,851 466 1,500 100 2,066 54%
Aruba 4,376 322 1,500 525 2,347 54%
Bahamas 4,425 1,110 1,500 525 3,135 71%
Barbados 4,376 1,796 1,491 625 3,912 89%
Belize 4,425 664 1,500 600 2,765 62%
Bermuda 3,851 1,170 1,500 45 2,715 71%
British Virgin Islands 3,851 667 1,500 0 2,167 56%
Canada 4,275 1,386 1,500 525 3,411 80%
Cayman Islands 3,851 0 934 0 934 24%
Costa Rica 3,851 1,679 1,500 100 3,279 85%
Cuba 4,376 331 1,500 575 2,406 55%
Curaçao 4,376 1,342 1,500 625 3,467 79%
Dominica 3,900 125 1,500 75 1,700 44%
Dominican Republic 4,425 615 1,462 600 2,677 61%
El Salvador 4,376 1,027 1,500 625 3,152 72%
Grenada 4,425 660 1,500 525 2,685 61%
Guatemala 4,425 0 750 0 750 17%
Guyana 4,425 1,274 1,500 613 3,387 77%
Haiti 4,425 1,440 1,500 675 3,615 82%
Honduras 3,920 752 1,500 170 2,422 62%
Jamaica 4,376 1,641 1,500 525 3,666 84%
Mexico 3,851 1,755 1,500 100 3,355 87%
Montserrat 3,900 675 1,250 0 1,925 49%
Nicaragua 4,425 800 1,500 675 2,976 67%
Panama 4,376 1,338 1,500 575 3,413 78%
Puerto Rico 4,425 1,160 1,500 600 3,260 74%
St Kitts and Nevis 3,851 280 1,500 0 1,780 46%
St Lucia 4,425 1,102 1,500 570 3,172 72%
St Vincent and the Grenadines 4,376 263 1,260 345 1,868 43%
Suriname 4,425 2,052 1,500 525 4,077 92%
Trinidad and Tobago 4,376 2,250 1,500 625 4,375 100%
Turks and Caicos Islands 3,900 666 1,500 150 2,316 59%
US Virgin Islands 4,425 879 1,500 555 2,934 66%
USA 3,750 1,406 1,500 0 2,906 77%
Total 146,978 33,224 50,648 12,774 96,646 65%

3
The amount of Forward funds to which each member association is entitled varies, with some member associations also eligible for travel and equipment solidarity
funding (e.g. those that need the most assistance or are geographically isolated).
4
Those member associations under sanction or suspension are not eligible to receive Forward funds.

50 | FIFA FINANCIAL REPORT 2018

 FIFA FORWARD PROGRAMME – 2016-2018 INVESTMENTS IN FOOTBALL | 4

Forward funds released (TUSD)

Entitlement Percentage
2016-2018 3 Project Operational Equipment and of funds
(TUSD) costs costs travel costs Total 4
released

Argentina 3,750 356 1,477 0 1,833 49%

Bolivia 4,425 441 1,500 675 2,616 59%
Brazil 3,750 1,204 1,500 0 2,704 72%
Chile 3,750 2,016 1,500 0 3,516 94%
Colombia 3,750 1,966 744 0 2,710 72%
Ecuador 3,851 725 1,000 100 1,825 47%
Paraguay 4,275 1,350 1,500 525 3,375 79%
Peru 3,750 2,101 1,500 0 3,601 96%
Uruguay 3,750 1,980 1,500 0 3,480 93%
Venezuela 3,851 1,138 1,000 100 2,238 58%
Total 38,901 13,277 13,221 1,400 27,898 72%

Forward funds released (TUSD)

Entitlement Percentage
2016-2018 3 Project Operational Equipment and of funds
(TUSD) costs costs travel costs Total 4
released

American Samoa 4,289 116 1,162 430 1,708 40%

Cook Islands 4,289 1,731 1,500 430 3,661 85%
Fiji 4,289 1,215 1,500 528 3,243 76%
New Caledonia 4,289 1,188 1,500 531 3,219 75%
New Zealand 4,289 1,783 1,500 538 3,821 89%
Papua New Guinea 4,289 666 1,483 210 2,359 55%
Samoa 4,289 752 1,500 539 2,791 65%
Solomon Islands 4,289 75 1,500 429 2,004 47%
Tahiti 4,289 2,230 1,500 480 4,209 98%
Tonga 4,289 337 1,500 282 2,119 49%
Vanuatu 4,289 100 1,500 429 2,029 47%
Total 47,175 10,192 16,145 4,827 31,164 66%

3
The amount of Forward funds to which each member association is entitled varies, with some member associations also eligible for travel and equipment solidarity
funding (e.g. those that need the most assistance or are geographically isolated).
4
Those member associations under sanction or suspension are not eligible to receive Forward funds.

FIFA FINANCIAL REPORT 2018 | 51

4 | INVESTMENTS IN FOOTBALL

Forward funds released (TUSD)

Entitlement Percentage
2016-2018 3 Project Operational Equipment and of funds
(TUSD) costs costs travel costs Total 4
released

Albania 3,851 1,575 1,500 100 3,175 82%

Andorra 3,750 500 1,500 0 2,000 53%
Armenia 4,275 1,416 1,500 525 3,441 80%
Austria 3,750 1,819 1,500 0 3,319 89%
Azerbaijan 3,851 2,252 1,500 50 3,802 99%
Belarus 3,750 1,784 1,500 0 3,284 88%
Belgium 3,750 1,497 1,500 0 2,997 80%
Bosnia and Herzegovina 3,750 651 1,500 0 2,151 57%
Bulgaria 3,750 1,774 1,500 0 3,274 87%
Croatia 3,750 36 1,500 0 1,536 41%
Cyprus 3,750 0 1,500 0 1,500 40%
Czech Republic 3,750 340 1,500 0 1,840 49%
Denmark 3,750 652 1,500 0 2,152 57%
England 3,750 2,204 1,500 0 3,704 99%
Estonia 3,750 1,308 1,500 0 2,808 75%
Faroe Islands 3,750 1,392 1,500 0 2,892 77%
Finland 3,750 2,200 1,500 0 3,700 99%
France 3,750 2,249 1,500 0 3,749 100%
FYR Macedonia 3,750 1,145 1,500 0 2,645 71%
Georgia 3,851 1,408 1,500 100 3,008 78%
Germany 3,750 750 1,000 0 1,750 47%
Gibraltar 3,750 320 1,500 0 1,820 49%
Greece 3,750 354 1,495 0 1,849 49%
Hungary 3,750 1,220 1,500 0 2,720 73%
Iceland 3,750 1,721 1,500 0 3,221 86%
Israel 3,750 563 1,500 0 2,063 55%
Italy 3,750 800 1,500 0 2,300 61%
Kazakhstan 3,851 299 1,500 100 1,899 49%
Kosovo 3,851 1,870 1,500 100 3,470 90%
Latvia 3,750 667 1,500 0 2,167 58%
Liechtenstein 3,750 1,334 1,500 0 2,834 76%
Lithuania 3,750 1,449 1,500 0 2,949 79%
Luxembourg 3,750 1,000 1,500 0 2,500 67%
Malta 3,750 1,500 1,500 0 3,000 80%

3
The amount of Forward funds to which each member association is entitled varies, with some member associations also eligible for travel and equipment solidarity
funding (e.g. those that need the most assistance or are geographically isolated).
4
Those member associations under sanction or suspension are not eligible to receive Forward funds.

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 FIFA FORWARD PROGRAMME – 2016-2018 INVESTMENTS IN FOOTBALL | 4

Moldova 3,851 0 1,500 50 1,550 40%

Montenegro 3,750 0 1,500 0 1,500 40%
Netherlands 3,750 1,359 1,500 0 2,859 76%
Northern Ireland 3,750 1,025 1,500 0 2,525 67%
Norway 3,750 1,058 1,500 0 2,558 68%
Poland 3,750 1,500 1,500 0 3,000 80%
Portugal 3,750 600 1,500 0 2,100 56%
Republic of Ireland 3,750 2,200 1,500 0 3,700 99%
Romania 3,750 2,178 1,500 0 3,678 98%
Russia 3,750 900 1,500 0 2,400 64%
San Marino 3,750 1,500 1,500 0 3,000 80%
Scotland 3,750 1,257 1,500 0 2,757 74%
Serbia 3,750 125 1,500 0 1,625 43%
Slovakia 3,750 1,456 1,500 0 2,956 79%
Slovenia 3,750 1,749 1,500 0 3,249 87%
Spain 3,750 149 1,500 0 1,649 44%
Sweden 3,750 1,131 1,500 0 2,631 70%
Switzerland 3,750 1,500 1,500 0 3,000 80%
Turkey 3,750 2,025 1,500 0 3,525 94%
Ukraine 3,750 1,800 1,500 0 3,300 88%
Wales 3,750 0 1,500 0 1,500 40%
Total 207,378 63,560 81,995 1,025 146,580 71%

FIFA FINANCIAL REPORT 2018 | 53

4 | INVESTMENTS IN FOOTBALL

FIFA FOOTBALL FOR SCHOOLS PROGRAMME

New football development programme –

the FIFA Football for Schools Programme
As described in the previous chapters, the 2015-2018 cycle OBJECTIVE
was not only a sporting success but also left FIFA on a The main objective of the Football for Schools Programme is
solid financial footing with the full-cycle net result of to provide qualifying primary schools with the necessary
USD 1,201 million being around 12 times the budget level. online and offline teaching and educational resources to help
More profits allow FIFA to invest more in football development. them develop football within their own school structures. In
Besides markedly increasing the Forward funds for the addition to providing online and offline teaching material, the
2019-2022 cycle, FIFA has also launched a new football Football for Schools Programme aims to provide football
development programme, the Football for Schools equipment to the participating schools.
Programme, through which FIFA can make the game of
football even more accessible and develop the sport within SCOPE
the established primary school structures, thereby further The programme is primarily aimed at developing the game of
contributing to its mission to promote and develop the game football within three primary school age categories (boys and
globally. girls):
4~7 years
Based on FIFA’s calculations, the Football for Schools 7~11 years
Programme could reach over 700 million children across the 11~14 years
world.

TOOLKIT FOR TEACHERS

TO UPSKILL TEACHERS
TO DELIVER FOOTBALL
SESSIONS WITH:
In-pocket solutions, i.e. mobile app,
online platform
• Animated videos
• Templates
• Instructions

54 | FIFA FINANCIAL REPORT 2018

 FIFA FOOTBALL FOR SCHOOLS PROGRAMME INVESTMENTS IN FOOTBALL | 4

GUIDELINES BUDGET
The Football for Schools Programme Guidelines define The FIFA Council has approved a budget of USD 100 million
the resources that FIFA has decided to provide under this to implement the Football for Schools Programme for the
programme, the roles and responsibilities of the parties period starting from the time of approval, October 2018, and
involved, as well as the procedure to be followed. running until 2022, including:
- USD 90 million for the purchase of 11 million footballs; and
DELIVERY - USD 10 million for financial contributions to participating
Through the Football for Schools Programme, FIFA will deliver member associations.
the following items and financial contributions to
participating member associations or schools: Besides the budget of USD 100 million for the programme
itself, FIFA’s operational budget of USD 6 million has been
1. Football also allocated to cover the costs for the development of
FIFA provides footballs to participating schools via the relevant content for the Football for Schools Programme, i.e.
member association. instruction material for (PE) teachers, development and
maintenance, updates of the online platform and an
2. Toolkit for (PE) teachers application for mobile devices.
The toolkit for (PE) teachers is an online application developed
by FIFA, which provides hours of age-appropriate football
activities for PE lessons within the school curriculum. In total,
120 sessions are designed to let children optimally experience
the joy, fun and values of football. These sessions will be
accessible through a free mobile application and an online
learning platform for teachers.

3. Supporting online platform and documentation

Alongside the toolkit, FIFA has developed an interactive
online platform that not only provides the guidelines of the
toolkit for (PE) teachers, but also engages with short
education and information modules for teachers and parents
to obtain further knowledge. In addition, the guidelines,
policy paper and other documents related to the FIFA Football
for Schools Programme can be accessed on the online
platform by member associations, schools and any other
related organisations.

4. Financial incentives
FIFA grants up to USD 50,000 to the member associations
that have successfully applied for the Football for Schools
Programme. This one-off payment contributes towards the
costs of the local distribution of football equipment received
from FIFA, the promotion of the Football for Schools
Programme and capacity-building of primary teaching staff of
participating schools.

FIFA FINANCIAL REPORT 2018 | 55

4 | INVESTMENTS IN FOOTBALL

INCREASED CONTRIBUTIONS TO THE FIFA WOMEN’S WORLD CUP FRANCE 2019™

Contributions increased by 233% for

participants of the FIFA Women’s World
Cup 2019™
FIFA strongly believes that women’s football brings many Prize money
important benefits to young girls and women involved in the The prize money for the teams participating in the FIFA
game. The passion for the women’s game and its steady Women’s World Cup France 2019 totals USD 30 million.
growth also demonstrates the vast untapped opportunities Compared with the amount for the FIFA Women’s World
presented to the football community as a whole. To grow the Cup Canada 2015™, the prize money for all positions has
game, to get more girls involved in it earlier, to keep more been doubled. The winners will receive USD 4 million, the
women in the game longer, and to further leverage the runners-up USD 2.6 million and the third-placed team
empowerment of women and the societal benefits of USD 2 million. The prize money for teams eliminated after
football, FIFA launched its first-ever global strategy for the group stage will amount to USD 0.75 million each. Full
women’s football in 2018. details are shown in the table on the next page.

With the launch of this strategy, FIFA is actively promoting Preparation money
women’s football worldwide through major competitions as For the FIFA Women’s World Cup France 2019, preparation
well as events, campaigns and development programmes. money has been introduced to support the 24 qualified teams
In October 2018, the respective FIFA committees and the in organising preparation matches before the competition
FIFA Council approved a proposal to increase the financial with a fund totalling USD 11.5 million. Combined with the
contributions to the participating member associations and prize money, this means that every team is guaranteed a
the clubs of players participating in the FIFA Women’s World minimum payment of USD 1.2 million for their participation in
Cup France 2019™ from the initial budget of USD 15 million the FIFA Women’s World Cup France 2019.
to USD 50 million, more than tripling the amount that was
paid out for the 2015 edition (USD 15 million). Club Benefits Programme
FIFA has also introduced the Club Benefits Programme for
The total funding not only doubles the amount of prize the FIFA Women’s World Cup™, as is already the case for
money awarded to participating member associations, but the FIFA World Cup™. The amount allocated to this
also provides funds for pre-tournament preparations and programme for the FIFA Women’s World Cup France 2019 is
rewards the clubs for their players taking part in this USD 8.5 million.
tournament. These three items are explained in detail below.

56 | FIFA FINANCIAL REPORT 2018

 INCREASED CONTRIBUTIONS TO THE FIFA WOMEN’S WORLD CUP FRANCE 2019™ INVESTMENTS IN FOOTBALL | 4

FIFA’S CONTRIBUTIONS TO THE FIFA WOMEN’S WORLD CUP 2019™ (USD MILLION)

50

8 Club Benefits Programme

12 Preparation money

+233%
358

15 30 Prize money

Prize money

FIFA Women’s World Cup Canada 2015™ FIFA Women’s World Cup France 2019™

PRIZE MONEY FOR THE FIFA WOMEN’S WORLD CUP FRANCE 2019™ (USD MILLION)

Prize money for the FIFA Women’s World Cup 2019™

Position Number of teams Prize money/team Total

World champions 1 4 4
Runners-up 1 2.6 2.6
Third place 1 2 2
Fourth place 1 1.6 1.6
5th-8 th place 4 1.45 5.8
9 th-16th place 8 1 8
th th
17 -24 place 8 0.75 6
Total 24 30

FIFA FINANCIAL REPORT 2018 | 57

4 | INVESTMENTS IN FOOTBALL

FIFA CLUB PROTECTION PROGRAMME

Continued successful operation of the Club

Protection Programme in the 2015-2018 cycle
The FIFA Club Protection Programme (“CPP”) constitutes an the actual costs of the CPP well under the initial budget
important element to compensate football clubs for injuries (20%). In summary, the claims experience in the 2015-2018
sustained by players while they are on duty in all “A” cycle was far better than expected, which in the end also led
international matches listed in the international match to lower costs for FIFA for the CPP (USD 106.5 million).
calendar. The programme with worldwide coverage has been
running successfully since September 2012. Since 2015, the As at 31 December 2018, the following claims statistics can
CPP has additionally included compensation for clubs who be provided for the period from 1 January 2015 to
release players for women’s “A” national teams. 31 December 2018:

Overall claims experience in 2015-2018 cycle TOTAL NUMBER OF CASES 220

Although statistically the number of claims was in line with of which settled 163
the claims experience of the 2011-2014 cycle (although the
of which in process 57
CPP only started in September 2012), the very positive
pecuniary claims experience since 2015 is in particular
because players with higher salaries had considerably shorter The statistics on injured body parts can be found below. The
temporary total disablement periods than players with lower most affected body part is the knee, with nearly half of all
salaries. Due to this fact and the favourable commercial terms injuries. The lower body parts represent more than 85% of all
in the case of a low claims experience, FIFA was able to keep injuries.

INJURY STATISTICS IN THE 2015-2018 CYCLE

Face (1.4%)

Shoulder (3.2%) Arm (4.1%)

Wrist (0.4%)
Rib (0.4%)
Hand (1.8%)

Groin (0.4%) Back (1.4%)

Hip (3.6%) Bottom (0.4%)

Thigh (12.3%)

Knee (43.2%)

Calf (1.4%)
Leg (8.2%)

Ankle (9.6%)
Foot (7.3%) Other (0.9%)

58 | FIFA FINANCIAL REPORT 2018

 FIFA CLUB PROTECTION PROGRAMME INVESTMENTS IN FOOTBALL | 4

2018 FIFA World Cup™ claims experience The CPP has considerably assisted in strengthening the
The 2018 FIFA World Cup™ delivered an extremely positive relationship between FIFA, the confederations, the member
claims experience. Whilst the 2014 FIFA World Cup™ led to associations and football clubs.
high compensation to football clubs, the 2018 FIFA World
Cup was positive with very few accidents and very short
temporary total disablement periods following these
Looking ahead
accidents.

Due to the vital importance of the programme for football

Conclusion
clubs, member associations and confederations, FIFA has
The awareness of CPP among football clubs and member extended the FIFA Club Protection Programme for the
associations grew further in the 2015-2018 cycle. Despite the 2019-2022 cycle.
substantial number of claims, no single dispute has arisen
between clubs and FIFA due to the CPP.

A Belgium fan celebrates his side’s

victory over England in the match
for third place at Russia 2018.

FIFA FINANCIAL REPORT 2018 | 59

Lionel Messi shares a joke with a
mascot prior to Argentina v. Iceland at
Russia 2018.
 Detailed budget for 2020 62

BUDGET FOR 2020 5

5 | BUDGET FOR 2020

DETAILED BUDGET FOR 2020

Revenue and expenses on track for full cycle

The 2020 budget was prepared in line with the FIFA 2.0 vision By the balance sheet date of 31 December 2018, 66% of the
for continuous football development and takes into account projected 2020 revenue had been contracted.
the Forward 2.0 regulations. It also conforms to the budget
for the four-year cycle that was approved by the 68th FIFA Revenue from the sale of television broadcasting rights is
Congress in Moscow, Russia, and takes into account the budgeted at USD 178 million, of which 99% of contracts for
financial benefits of insourcing key FIFA activities, such as the period have already been signed.
ticketing services.
Marketing rights sales are similarly positioned, with 93%
This budget is presented using the same structure as that of signed of a total budget of USD 128 million. It is expected
the full four-year cycle budget and has been approved by the that National Supporters will be signed up for the other FIFA
FIFA Finance Committee and the FIFA Council, with final events due to take place in 2020.
approval to be provided by the FIFA Congress in June 2019.
The licensing rights budget is USD 112 million, mainly in the
area of brand licensing, where royalty payments are received
484 if minimum guarantee thresholds for contract payments
Revenue (USD million) exceed the amounts specified in the period.

1,108 Revenue from hospitality rights and ticket sales is not

Total investments/expenses (USD million) applicable in 2020 as income from these streams is generated
mainly from the FIFA World Cup™ and the FIFA
-624 Confederations Cup. Typically, FIFA recognises hospitality and
Result before taxes and financial result (USD million) ticketing revenues only for these two competitions.

52%
Other revenue consists of contributions from the annual
Percentage of total investment budget dedicated to
development and education FIFA Club World Cup, the FIFA Quality Programme and
other income streams that include rental income, income
66% from penalties and appeals, and income from the sale of
Revenue contracts of 2020 budget signed video rights. The total “Other revenue” budget totals
USD 66 million. The portion of these rights that is already
contracted amounted to 23% as at 31 December 2018.
REVENUE 2020
The total revenue budget for 2020 amounts to By applying IFRS, FIFA recognises the majority of its revenue
USD 484 million, which represents 7% of the full-cycle in the fourth year of the cycle. As a result, each year in FIFA’s
2019-2022 revenue budget of USD 6,560 million. cycle should be viewed in combination and keeping the
full-cycle revenue of USD 6,560 million in mind. Moreover, as
Revenue from television broadcasting rights contributes the a result of the financial model deployed, the first three years
largest share at 37%, followed by marketing rights at 26%. of a cycle typically show a negative result.
Licensing and other revenue make up the remaining 37% of
the budget.

62 | FIFA FINANCIAL REPORT 2018

 DETAILED BUDGET FOR 2020 BUDGET FOR 2020 | 5

EXPENSES 2020
Competitions & Events FIFA promotes the development of women‘s football and
The 2020 budget covers the delivery of seven competitions pledges to support it financially as well as give potential
across the world and The Best FIFA Football Awards™. players, coaches, referees and officials the opportunity to
become actively involved in football. The total investment in
Youth tournaments include investments for the FIFA U-20 women’s football programmes for 2020 is USD 14 million.
and U-17 Women’s World Cups. As the locations have not yet
been determined, a higher budget has been planned due to Other projects, with a total planned investment of
potentially higher travel and accommodation rates. USD 19 million, includes activities to help member
associations to develop the game of football across the world.
Lithuania will be hosting a FIFA tournament for the first time
with the ninth edition of the FIFA Futsal World Cup, the Football Governance
budget being USD 22 million. FIFA is projecting a total investment of USD 15 million in
football regulatory activities, such as the Transfer Matching
As part of the Tokyo 2020 Summer Olympics, FIFA will be System (TMS).
investing a total of USD 16 million in the Olympic Football
Tournaments. FIFA Governance & Administration
The legal costs budgets are significantly lower than previous
There will be an investment of USD 21 million in 2020 for the years due to the fact that certain legal cases are drawing to a
annual FIFA Club World Cup, which is in line with previous close and the Legal & Integrity Division has been reorganised
editions. under new leadership.

Development & Education As part of the FIFA 2.0 communications initiatives, a new
Under the revised FIFA Forward regulations, FIFA will invest a division has been created and will be dedicated to improving
total of USD 436 million in 2020, as follows: FIFA’s digital and mobile strategy. An additional budget of
• Each member association will receive USD 1 million in USD 5 million will be invested for this purpose.
2020: USD 500,000 for operational expenses in January,
and an additional USD 500,000 in July, subject to the An increase in the information technology budget will be
fulfilment of certain conditions as outlined in the Forward invested in developing a state-of-the-art fan interaction
2.0 regulations. management system as part of the FIFA 2.0 vision.
• Furthermore, the member associations are entitled to
receive USD 2 million at any point in the cycle. The The budgeted buildings and maintenance costs for 2020
expenses for these projects will be recognised at the time are lower due to the adoption of IFRS 16, although
when the project is approved. The 2020 budget assumes depreciation is higher as a result. The overall impact of
that one quarter of this amount will be approved in the IFRS 16, however, is minimal.
year.
• Each confederation will receive USD 12 million in 2020. Personnel expenses in 2020 reflect an increase in FIFA’s
• Additional funds will be available for travel and headcount, which is due to the additional support required
equipment and other programmes as well as for zonal/ for the digital strategy and insourcing activities.
regional associations for a total of USD 48 million.
Marketing & TV Broadcasting
After the huge success of VAR on its introduction at the 2018 The 2020 budget is in line with FIFA’s commitment to invest in
FIFA World Cup™, FIFA has decided to increase investment in the digital field as part of the FIFA 2.0 vision. It includes an
the Refereeing Assistance Programme (RAP), with the additional investment of USD 1 million for the insourcing of
focus on training referees across the globe on new football the FIFA Films operations.
technologies up to a total of USD 16 million for 2020.

The FIFA Foundation will have an available budget of

USD 8.4 million in 2020 to help promote positive social
change around the world and raise support for the recovery
and reconstruction of damaged or destroyed sports
infrastructure worldwide.

FIFA FINANCIAL REPORT 2018 | 63

5 | BUDGET FOR 2020

TOTAL REVENUE AND INVESTMENT BUDGET FOR THE YEAR 2020 (USD MILLION)
2020 IFRS
TOTAL REVENUE 484

FIFA Club World Cup 2020 21

FIFA youth tournaments 2020 42
FIFA Futsal World Cup 2020 22
FIFA Interactive World Cup/FIFA eWorld Cup 8
Olympic Football Tournaments Tokyo 2020 16
FIFA Blue Stars/FIFA Youth Cup 2020 0.7
The Best FIFA Football Awards™ 2020 7
FIFA events from previous cycles 0.3
Value in kind and other 15
FIFA Club Protection Programme 31
Personnel expenses 35
Depreciation of property and equipment 2
COMPETITIONS & EVENTS 200
DEVELOPMENT & EDUCATION (FOR DETAILS, SEE THE NEXT PAGE) 578
Football governance bodies and third-party services 15
Personnel expenses 16
Depreciation of property and equipment 1
FOOTBALL GOVERNANCE 32
Legal and governance costs related to investigations 18
Annual FIFA Congress and committee meetings 23
Communications 24
Information technology 29
Buildings and maintenance 13
Other (including insurance, consultancy and auditing costs, and value in kind) 23
Personnel expenses 102
Depreciation of property and equipment/investment properties 7
FIFA GOVERNANCE & ADMINISTRATION 239
Broadcasting and media rights 5
Marketing rights 13
Licensing rights 3
Sales commission and other 16
Personnel expenses 21
Depreciation of property and equipment 1
MARKETING & TV BROADCASTING 59
TOTAL INVESTMENT 1,108

RESULT BEFORE TAXES AND FINANCIAL RESULT –624

64 | FIFA FINANCIAL REPORT 2018

 DETAILED BUDGET FOR 2020 BUDGET FOR 2020 | 5

OVERVIEW OF THE REVENUE BUDGET FOR 2020 (USD MILLION)

Budget 2020 % signed
Revenue from television broadcasting rights 178 99%
Revenue from marketing rights 128 93%
Revenue from licensing rights 112 8%
Revenue from hospitality/accommodation rights and ticket sales 0 0%
Other revenue 66 23%
Total revenue 484 66%

INVESTMENT BUDGET FOR DEVELOPMENT & EDUCATION IN THE YEAR 2020 (USD MILLION)

Other development
and educational programmes 41
Women's football development 14
Sustainability, human rights and
anti-discrimination 2
Education 5
Medicine and science 2
Audit and financial education 4
FIFA Foundation 8
FIFA World Football Museum 6
FIFA Forward Programme 436
7%
Depreciation 20 Member associations 316
Confederations 72
3% 100% = Regional/zonal associations 16
USD 578 million Travel/equipment/other 32
Personnel expenses 28 5%
75%
4%
Development Offices, Executive
3%
Football Summits and administration 22
3%

Refereeing Assistance Programme (RAP) 16 Technical development programmes 15

FIFA FINANCIAL REPORT 2018 | 65

France star Kylian Mbappé takes a corner kick
during the 2018 FIFA World Cup Russia Group C
match between France and Peru.
Consolidated financial statements 68

Notes 74

Reports to the FIFA Congress 127

FINANCIAL 6
REPORT 2018
6 | FINANCIAL REPORT

CONSOLIDATED FINANCIAL STATEMENTS

Consolidated financial statements

according to IFRS

Page
Consolidated statement of comprehensive income 70
Consolidated balance sheet 71
Consolidated cash flow statement 72
Consolidated statement of changes in reserves 73

Notes to the consolidated financial statements

Significant accounting policies 74
A General information and statement of compliance 74
B Basis of presentation 74
C Basis of consolidation 75
D Foreign currency 76
E Revenue recognition 76
F Expenses from football activities 78
G Expenses from administrative activities 78
H Operating lease payments 79
I Financial income and financial costs 79
J Taxes and duties 79
K Cash and cash equivalents 80
L Derivatives 80
M Property and equipment 80
N Intangible assets 80
O Investment properties 81
P Non-derivative financial assets 81
Q Non-derivative financial liabilities 81
R Impairment 82
S Employee benefit obligations 82
T Provisions 82
U Reserves 83
V Significant accounting judgements, estimates and assumptions 83

68 | FIFA FINANCIAL REPORT 2018

 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL REPORT | 6

Notes to the consolidated statement of comprehensive income 85

1 Revenue from television broadcasting rights 85
2 Revenue from marketing rights 86
3 Revenue from licensing rights 86
4 Revenue from hospitality/accommodation rights and ticket sales 87
5 Other revenue 88
6 Competitions & Events 89
7 Development & Education 91
8 Football Governance 95
9 FIFA Governance & Administration 96
10 Marketing & TV Broadcasting 97
11 Financial costs 97
12 Financial income 98
13 Taxes and duties 98

Notes to the consolidated balance sheet 99

14 Cash and cash equivalents 99
15 Receivables 99
16 Prepaid expenses and other accrued income 101
17 Contract assets 101
18 Property and equipment 103
19 Intangible assets 104
20 Investment properties 105
21 Financial assets 106
22 Payables 106
23 Accrued expenses 107
24 Contract liabilities 107
25 Provisions 108
26 Reserves 109

Other disclosures 110

27 Financial risk management 110
28 Hedging activities and derivative financial instruments 117
29 Personnel expenses 118
30 Contingent liabilities 123
31 Capital commitments 123
32 Operating leases 124
33 Related-party transactions 124
34 Consolidated subsidiaries 125
35 Post-balance-sheet events 126

These consolidated financial statements are published in English, German, French and Spanish. If there is any divergence in the
wording, the English text is authoritative.

FIFA FINANCIAL REPORT 2018 | 69

6 | FINANCIAL REPORT

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

in TUSD Note 2018 2017

REVENUE
Revenue from television broadcasting rights 1 2,543,968 228,645
Revenue from marketing rights 2 1,143,312 245,277
Revenue from licensing rights 3 184,573 160,211
Revenue from hospitality/accommodation rights and ticket sales 4 689,143 22,368
Other revenue 5 79,958 77,701
Total revenue 4,640,954 734,202

EXPENSES
Competitions & Events 6 –1,974,317 –219,373
Development & Education 7 –578,469 –477,507
Football Governance 8 –31,479 –24,565
Total expenses from football activities –2,584,265 –721,445

FIFA Governance & Administration 9 –190,586 –164,622

Marketing & TV Broadcasting 10 –116,303 –37,081
Total expenses from administrative activities –306,889 –201,703

Result before taxes and financial result 1,749,800 –188,946

Taxes and duties 13 –28,965 –979
Financial costs 11 –189,808 –100,840
Financial income 12 282,970 99,243

Net result for the year 1,813,997 –191,522

Other comprehensive income

Items that will not be reclassified to profit or loss
Remeasurements of post-employment benefit obligations 29 1,145 17,887
Items that may be subsequently reclassified to profit or loss
Foreign currency translation differences –276 2,602
Reclassification adjustment relating to foreign operations 0 52,397
Total other comprehensive income 869 72,886
Total comprehensive income for the year 1,814,866 –118,636

Net result for the year 1,813,997 –191,522

Allocation to restricted reserves –1,813,997 191,522
Result for the year after allocation 0 0

The notes on pages 74 to 126 are an integral part of these consolidated financial statements.

70 | FIFA FINANCIAL REPORT 2018

 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL REPORT | 6

CONSOLIDATED BALANCE SHEET

in TUSD Note 31 Dec 2018 31 Dec 2017

Assets
Cash and cash equivalents 14 832,397 952,965
Receivables 15 212,409 524,625
Derivative financial assets 28 7,835 5,137
Financial assets 21 1,866,074 1,013,190
Contract assets 17 47,923 85,576
Prepaid expenses and other accrued income 16 229,958 603,478
Current assets 3,196,596 3,184,971
Property and equipment 18 233,529 258,855
Intangible assets 19 4,319 0
Investment properties 20 25,923 27,884
Derivative financial assets 28 8,694 5,636
Financial assets 21 897,402 924,920
Prepaid expenses and other accrued income 16 22,199 14,431
Non-current assets 1,192,066 1,231,726
Total assets 4,388,662 4,416,697
Liabilities and reserves
Payables 22 116,745 130,081
Derivative financial liabilities 28 6,220 12,681
Contract liabilities 24 258,048 2,392,143
Accrued expenses 23 785,767 520,333
Current liabilities 1,166,780 3,055,238
Contract liabilities 24 80,165 89,309
Accrued expenses 23 102,221 70,638
Post-employment benefit obligation 29 78,996 74,333
Derivative financial liabilities 28 386 322
Provisions 25 215,392 197,000
Non-current liabilities 477,160 431,602
Total liabilities 1,643,940 3,486,840
Association capital 26 4,104 4,104
Foreign currency translation reserves –232 44
Restricted reserves 26 2,740,850 925,709
Reserves 2,744,722 929,857
Total liabilities and reserves 4,388,662 4,416,697

The notes on pages 74 to 126 are an integral part of these consolidated financial statements.

FIFA FINANCIAL REPORT 2018 | 71

6 | FINANCIAL REPORT

CONSOLIDATED CASH FLOW STATEMENT

in TUSD Note 2018 2017

Net result for the year 1,813,997 –191,522

Depreciation 18–20 28,675 30,248
Net financial result 11–12 –93,162 1,597
Other non-cash items –16,185 12,139
Taxes and duties 13 28,965 979

(Increase)/Decrease in receivables 312,216 –320,638

(Increase)/Decrease in prepaid expenses and accrued income 365,752 –295,544
(Increase)/Decrease in derivative financial assets and liabilities –12,153 16,895
(Increase)/Decrease in contract assets 37,653 56,625
Increase/(Decrease) in payables –13,336 56,414
Increase/(Decrease) in accrued expenses 302,825 41,829
Increase/(Decrease) in contract liabilities –2,143,239 1,157,784
Increase/(Decrease) in provisions 18,392 –64,998
Taxes and duties paid –672 –23,113
Net cash generated by operating activities 629,728 478,695
Purchase of property and equipment 18 –5,765 –4,611
Investment in financial assets 21 –6,143,631 –1,743,228
Repayments of financial assets 21 5,365,596 1,159,387
Interest received 44,057 38,805
Income from investments in financial assets 0 14
Purchase of intangible assets 19 –577 0
Net cash (used)/generated in investing activities –740,320 –549,633
Interest paid –7,277 –2,814
Net cash used in financing activities –7,277 –2,814
Net (decrease)/increase in cash and cash equivalents –117,869 –73,752

Cash and cash equivalents as at 1 January 14 952,965 1,010,140

Effect of exchange rate fluctuations –2,699 16,577
Net increase/(decrease) in cash and cash equivalents –117,869 –73,752
Cash and cash equivalents as at 31 December 14 832,397 952,965

The notes on pages 74 to 126 are an integral part of these consolidated financial statements.

72 | FIFA FINANCIAL REPORT 2018

 CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL REPORT | 6

CONSOLIDATED STATEMENT OF CHANGES IN RESERVES

Association Translation Restricted

in TUSD Total
capital reserves reserves

Balance as at 1 January 2017 4,104 –54,955 1,099,343 1,048,492

Remeasurement of post-employment benefit obligations 0 0 17,887 17,887
Foreign currency translation differences 0 2,602 0 2,602
Reclassification adjustment relating to foreign operations 0 52,397 0 52,397
Total other comprehensive income 0 54,999 17,887 72,886
Net result for the year 0 0 –191,522 –191,522
Total comprehensive income for the year 0 54,999 –173,634 –118,636
Balance as at 31 December 2017 4,104 44 925,709 929,857

Association Translation Restricted

in TUSD Total
capital reserves reserves

Balance as at 1 January 2018 4,104 44 925,709 929,857

Remeasurement of post-employment benefit obligations 0 0 1,144 1,144
Foreign currency translation differences 0 –276 0 –276
Total other comprehensive income 0 –276 1,144 868
Net result for the year 0 0 1,813,997 1,813,997
Total comprehensive income for the year 0 –276 1,815,141 1,814,865
Balance as at 31 December 2018 4,104 –232 2,740,850 2,744,722

The notes on pages 74 to 126 are an integral part of these consolidated financial statements.

Please see Note 29 (Personnel Expenses) for detailed information For further information relating to the reclassification adjustment
relating to the remeasurement of post-employment benefit relating to foreign operations in 2017, please refer to Note 11
obligations. (Financial Costs).

FIFA FINANCIAL REPORT 2018 | 73

6 | FINANCIAL REPORT

NOTES

Notes to the consolidated

financial statements
SIGNIFICANT ACCOUNTING POLICIES

A GENERAL INFORMATION AND STATEMENT OF COMPLIANCE

The Fédération Internationale de Football Association While these consolidated financial statements cover the period
(FIFA), domiciled in Zurich, Switzerland, is an international from 1 January 2018 to 31 December 2018, FIFA’s current
non-governmental, non-profit organisation in the form of financial reporting cycle extends from 1 January 2015 to
an association under Swiss law. FIFA’s members comprise 31 December 2018.
211 associations affiliated to six confederations. FIFA’s principal
mission is to promote the game of football, protect its integrity Some figures cannot be compared on a year-on-year basis,
and bring the game to all. in particular revenue and expenses from Competitions &
Events. Due to its nature as a not-for-profit organisation and
The consolidated financial statements were approved by the the distribution of revenue across various financial years,
FIFA Council on 15 March 2019, and will be submitted to the FIFA’s financial figures are best analysed considering the full
69th FIFA Congress on 5 June 2019 for approval. four-year cycle. The first three years of each cycle structurally
produce a negative result, while year four produces a
FIFA prepares the consolidated financial statements in significant positive result.
accordance with International Financial Reporting Standards
(IFRS) as issued by the IASB. The scope of consolidated Consequently, a comparison of a single year against figures
subsidiaries is set out in Note 34. Other football associations for the previous year is, in some cases, not meaningful.
are not consolidated. Based on the FIFA Statutes, the financial
cycle of FIFA is four years and begins on 1 January in the year
following the final competition of the FIFA World Cup™.

B BASIS OF PRESENTATION

The consolidated financial statements are presented in New standards, interpretations and amendments adopted
US dollars (USD), which is the functional currency of FIFA. Effective 1 January 2018, FIFA applied IFRS 9 – Financial
instruments for the first time. IFRS 9 brings together all three
The consolidated financial statements are prepared on a aspects of the accounting for financial instruments project:
historical cost basis, except for derivative financial instruments classification and measurement, impairment and hedge
and certain financial assets that are stated at fair value. accounting.

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FIFA performed a detailed impact analysis, which concluded the recognition, measurement, presentation and disclosure
that IFRS 9 does not have a material impact on the of leases and requires lessees to account for all leases under
consolidated financial statements and no first adoption a single on-balance sheet model similar to the accounting for
adjustment was required from 1 January 2018. The finance leases under IAS 17.
consequential amendments to IFRS 7, have, however, resulted
in additional disclosures, which are included in sections P and R. At the commencement date of a lease, a lessee will recognise
Comparative information for 2017 has not been restated. a liability to make lease payments (i.e. the lease liability) and
an asset representing the right to use the underlying asset
In addition to IFRS 9 – Financial Instruments, FIFA applied during the lease term (i.e. the right-of-use asset). Lessees will
other IFRS amendments and interpretations for the first time be required to separately recognise the interest expense on
in 2018. These amendments and interpretations did not have the lease liability and the depreciation expense on the right-of-
an impact on the financial statements, whether individually or use asset.
in aggregate.
FIFA plans to adopt the standard on 1 January 2019 using the
FIFA has not adopted any standards, interpretations or modified retrospective approach, under which comparative
amendments that have been issued but are not yet effective. reporting periods presented will not be restated.

Standards issued but not yet effective A detailed impact assessment of IFRS 16 was conducted
IFRS 16 was issued in January 2016 and replaced IAS 17 in 2018. FIFA expects to recognise right-of-use assets of
– Leases, IFRIC 4 – Determining Whether an Arrangement approximately USD 114 million (after adjustment for accrued
Contains a Lease, SIC-15 – Operating Leases – Incentives and lease payments recognised as at 31 December 2018) and
SIC-27 – Evaluating the Substance of Transactions Involving lease liabilities of USD 181 million on 1 January 2019. The
the Legal Form of a Lease. IFRS 16 sets out the principles for application of IFRS 16 has no impact on FIFA’s reserves.

C BASIS OF CONSOLIDATION

The term “FIFA” is hereafter also used for the consolidated Intra-group balances and transactions and any unrealised
group, which represents FIFA and its subsidiaries. Subsidiaries gains arising from intra-group transactions are eliminated in
are all entities over which FIFA has control. FIFA controls preparing the consolidated financial statements. Unrealised
an entity when FIFA is exposed to, or has rights to, variable losses are eliminated in the same way as unrealised gains, but
returns from its involvement with the entity and has the only to the extent that there is no evidence of impairment.
ability to affect those returns through its power over the
entity. Subsidiaries are fully consolidated from the date
on which control is transferred to the group. They are
deconsolidated from the date on which that control ceases.
The individual subsidiaries included in this consolidation
are shown in Note 34.

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D FOREIGN CURRENCY

a) Foreign currency transactions and balances The main foreign exchange rates used are as follows
Transactions in foreign currencies are converted at the (USD per 1 unit/100 units):
foreign exchange rate ruling on the date of the transaction.
Monetary assets and liabilities denominated in foreign
currencies on the balance sheet date are converted at 31 Dec Average 31 Dec Average
the foreign exchange rate ruling on that date. Foreign 2018 2018 2017 2017
exchange differences arising from conversion are 1 CHF 1.0057 1.0133 1.0119 1.0023
recognised in profit or loss. 1 EUR 1.1437 1.1865 1.1948 1.1161
1 GBP 1.2688 1.3433 1.3456 1.2782
b) Financial statements of foreign subsidiaries
100 RUB 1.4354 1.6235 1.7383 1.7053
For FIFA’s foreign subsidiaries, assets and liabilities including
100 BRL 25.7809 28.0611 30.2031 31.2643
fair value adjustments arising on consolidation are
converted into USD at the foreign exchange rate ruling
on the balance sheet date. The revenue and expenses of
foreign subsidiaries are converted into USD at the monthly
average foreign exchange rates of the period. Exchange
differences arising from conversion of the accounts of
foreign subsidiaries are recognised in other comprehensive
income.

E REVENUE RECOGNITION

The main revenue streams for FIFA relate to the sale of the in a particular territory. The performance obligation is defined
following rights: as the right to access intellectual property. Revenue related
• Television broadcasting rights to television broadcasting rights is recognised over the rights
• Marketing rights period measured based on the pattern of broadcasting of the
• Licensing rights contractual events.
• Hospitality rights
• Ticket sales Marketing rights provide the FIFA Partners, FIFA World Cup
Sponsors, Regional Supporters and National Supporters with
The transaction price of a contract consists in general of fixed access to intellectual property by enabling them to enter into
and variable consideration as well as, infrequently, non-cash a long-term strategic alliance with FIFA which also includes a
components (value in kind). set of predefined rights. The performance obligations under
marketing rights contracts consist of both tangible and
Nature of performance obligations intangible marketing rights, which are separated. The tangible
The following is a description of the principal activities with rights include event-related media and advertising rights which
which FIFA generates revenue: result in revenue recognition as the contractual events are
broadcast. The intangible right is attributed to the promise to
Television broadcasting rights are granted primarily to TV benefit from a strategic association with FIFA, its competitions
stations and other broadcasting institutions. These rights are and brand, resulting in a straight-line recognition of revenue
granted to broadcast the television signal for a defined period over the contractual rights period.

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Licensing rights are granted to licensees to both associate Hospitality rights provide the licensee with the right to
the licensee with FIFA and the FIFA competitions and obtain provide hospitality/accommodation and ticketing services for
the right to use FIFA marks and brand elements as a platform selected FIFA competitions, including the FIFA Confederations
to brand its related products and services. As the licensee Cup Russia 2017 and the 2018 FIFA World Cup Russia™. The
has access to intellectual property, the amount of revenue is amount of revenue for the FIFA World Cup includes both fixed
recognised over the rights period and is further determined by and variable considerations, whereas all other events have
categorising each licensing right contract as follows: variable considerations only. Contractually determined fixed
payments are recognised in the period in which the FIFA World
1) For the right to consideration of fixed fees only, revenue is Cup takes place. Revenue based on profit share agreements
recognised over the rights period on the basis of fixed-fee is recognised once the profit share for the event has been
amounts. determined by the licensee.

2) For the right to consideration of sales- or usage-based Ticket sales in connection with the FIFA Confederations
royalties with specified minimum guarantee amounts, Cup Russia 2017 and the 2018 FIFA World Cup Russia are
FIFA assesses at each reporting date whether the royalty recognised in the year the event takes place.
amounts to be received will exceed the contractual
minimum guarantee threshold. Revenue from rendering of services is recognised in the
a. If the sales-based royalty is not expected to clearly accounting period in which the services are rendered.
exceed the minimum guarantee threshold, revenue is
recognised over the rights period measured on the basis Value-in-kind revenue consists of promises to receive pre-
of the fixed guaranteed consideration. Any royalties determined services and the delivery of goods to be used in
received in one period in excess of the minimum connection with the 2018 FIFA World Cup Russia or other FIFA
guarantee due are deferred and recognised only when events. The revenue related to value in kind forms part of the
total royalties received exceed the contractual minimum overall consideration receivable and is recognised applying
guarantee threshold. the same measure of progress as the performance obligation
b. When FIFA has a reasonable expectation that royalty it relates to. Value-in-kind consideration is measured at fair
amounts to be received will clearly exceed the value.
contractual minimum guarantee threshold, fixed and
variable considerations are estimated and revenue is
recognised as the performance obligation is satisfied.
The amount of revenue recognised for the reporting
period is subject to the royalty constraint (i.e.
cumulative revenue amounts cannot exceed cumulative
royalty amounts).

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F EXPENSES FROM FOOTBALL ACTIVITIES

Expenses from football activities are separated into the six confederations. The expenses are recorded in profit
Competitions & Events, Development & Education and or loss under Development & Education. If a member
Football Governance: association or confederation does not use all of the FIFA
Forward Programme funds available under the 1.0 edition, the
Competitions & Events expenses are the outflow of remaining balance will be accrued until 31 December 2020.
economic benefits that arise in the ordinary activity of
organising an event. Incurred costs related to the FIFA World As part of its statutory objective to improve the game of
Cup™ and other FIFA events are deferred and recognised in football constantly and promote it globally in the light of
profit or loss in the period in which the event takes place. its unifying, educational, cultural and humanitarian values,
particularly through youth and development programmes,
For accounting purposes, FIFA defines “other FIFA events” in October 2018, the FIFA Council agreed to implement the
as all other football events, such as the FIFA Women’s World Football for Schools Programme. In addition to the expenses
Cup™, the FIFA Confederations Cup, the FIFA Club World Cup, recorded for Football for Schools projects, incurred costs
the FIFA U-20 World Cup, the FIFA U-17 World Cup, the FIFA related to the FIFA World Football Museum are also included
U-20 Women’s World Cup, the FIFA U-17 Women’s World Cup, under Development & Education.
the Olympic Football Tournaments, the FIFA Futsal World Cup,
the FIFA Beach Soccer World Cup, the The Best FIFA Football Football Governance expenses comprise all expenditure
Awards™, the Blue Stars/FIFA Youth Cup and the FIFA eWorld in relation to FIFA’s statutory objective to govern association
Cup™. football and related matters. The costs mainly include the
judicial bodies (Disciplinary, Ethics and Appeal Committees),
FIFA provides financial assistance to member associations and plus the costs of the Players’ Status Committee as part of
confederations in return for past or future compliance with administrating player regulations. It also includes expenses
certain conditions relating to their activities. An integral part with regard to preventing match manipulation as part of the
of FIFA’s development path is the FIFA Forward Programme, agreement with Sportradar, and players’ status proceedings as
which provides 360-degree, tailor-made support for football part of the Transfer Matching System.
development in each of FIFA’s member associations and

G EXPENSES FROM ADMINISTRATIVE ACTIVITIES

Expenses from administrative activities are separated into FIFA to information technology, buildings and maintenance,
Governance & Administration and Marketing & TV Broadcasting: communications, the annual FIFA Congress and legal costs.

FIFA Governance & Administration expenses comprise Marketing & TV Broadcasting expenses are costs incurred
all costs related to the governance of FIFA itself and are by the FIFA Commercial Division for the commercialisation of
recognised as profit or loss as incurred. Expenses from marketing and broadcasting rights, mainly costs relating to
administrative activities include, in particular, costs related oversight of and assistance to Commercial Affiliates.

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H OPERATING LEASE PAYMENTS

FIFA as a lessee FIFA as a lessor

Payments made under operating leases are recognised in FIFA is the lessor in operating leases for certain properties.
profit or loss on a straight-line basis over the term of the Rental income is recognised on a straight-line basis over the
respective lease. lease term.

I FINANCIAL INCOME AND FINANCIAL COSTS

Financial income comprises interest income from cash and Interest income is recognised in profit or loss using the effective
cash equivalents, income from deposits and debt securities, interest rate method. Dividend income is recognised in profit or
foreign exchange gains, and gains from financial assets at fair loss on the date that the dividend is declared.
value through profit or loss.

Financial costs consist of interest expenses on financial

liabilities, expenses from debt securities, foreign exchange
losses, losses from financial assets at fair value through profit
or loss, and other financial expenses.

J TAXES AND DUTIES

FIFA was established in the legal form of an association in The subsidiaries are taxed according to the relevant tax
accordance with articles 60ff. of the Swiss Civil Code. FIFA’s legislation. This position includes all non-recoverable taxes and
new vision as stated in FIFA 2.0 is to promote the game of duties borne by FIFA and its subsidiaries.
football, protect its integrity and bring the game to all. FIFA is
a non-profit organisation and is obliged to spend its reserves
for the above-mentioned purpose.

FIFA is taxed in Switzerland according to the ordinary taxation

rules applying to associations. The non-profit character of
FIFA and the four-year accounting cycle are thereby taken into
account.

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K CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash on hand, post and

bank accounts, as well as call accounts and short-term deposits
with an original maturity of three months or less.

L DERIVATIVES

FIFA uses derivative financial instruments to hedge its exposure The fair value of forward exchange contracts is their market
to foreign exchange rate risks arising from operating and price at the balance sheet date, being the present value of the
investing activities. However, FIFA does not apply hedge quoted forward price.
accounting and therefore classifies all derivatives at fair value
through profit or loss. FIFA does not hold or issue derivative
financial instruments for trading purposes.

Derivatives are initially recognised at fair value. Subsequent

to initial recognition, all derivatives are also stated at fair
value. Gains and losses on remeasurement of derivatives are
recognised in profit or loss immediately.

M PROPERTY AND EQUIPMENT

Property and equipment are stated at acquisition cost less Depreciation is charged to profit or loss on a straight-line basis
accumulated depreciation and impairment losses. Where parts over the estimated useful lives of property and equipment.
of an item of property and equipment have different useful Depreciation is allocated to FIFA’s key activity expenses. Land is
lives, they are accounted for as separate items of property and not depreciated. The estimated useful lives are as follows:
equipment. Repairs and maintenance costs are recognised in • Operational buildings 20-50 years
profit or loss as an expense as they are incurred. • Office and other equipment 3-20 years

N INTANGIBLE ASSETS

Intangible assets acquired separately are measured on impairment losses. The estimated useful life of intangible
initial recognition at cost. Following initial recognition, they assets consisting of software is three years.
are carried at cost less any accumulated depreciation and

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O INVESTMENT PROPERTIES

Investment property is measured using the cost model, i.e. is recognised in profit or loss. Depreciation is charged to
stated at acquisition cost less accumulated depreciation and profit or loss on a straight-line basis over the estimated useful
impairment losses. Any gain or loss on disposal of investment lives of investment properties. Land is not depreciated. The
property (calculated as the difference between the net estimated useful life of investment property is 20 years.
proceeds from disposal and the carrying amount of the item)

P NON-DERIVATIVE FINANCIAL ASSETS

Since 1 January 2018, FIFA has been classifying its non- Financial assets at fair value through profit or loss are certain
derivative financial assets into the following categories: debt securities held for trading, essentially in the event of a
financial assets measured at amortised cost and financial need for liquidity or positive market changes. Such financial
assets measured at fair value through profit or loss. assets are measured at fair value with changes thereto
recognised in profit or loss.
Financial assets measured at amortised cost are:
• Loans and receivables created by FIFA as a result of Financial assets and liabilities are offset and the net amount
pursuing its business activity is presented in the balance sheet when FIFA has a legally
• FIFA’s investment in debt securities and deposits enforceable right to offset the recognised amount and the
transactions are intended either to be settled on a net basis or
Regarding these financial assets, FIFA’s business model is to to realise the asset and settle the liability simultaneously.
hold and collect contractual cash flows for them. The cash
flows are comprised solely of principal and interest payments.

These financial assets are initially recognised at fair value plus

any directly attributable transaction costs. Subsequently, they
are measured at amortised cost using the effective interest
method less impairment losses.

Q NON-DERIVATIVE FINANCIAL LIABILITIES

Non-derivative financial liabilities such as payables are

measured at amortised cost, which equals nominal value for
short-term payables.

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R IMPAIRMENT

The carrying amounts of FIFA’s property and equipment, and all of the cash flows that FIFA expects to receive. The
investment properties, intangible assets and financial assets shortfall is then discounted at an approximation of the asset´s
measured at amortised cost are reviewed at each balance original effective interest rate.
sheet date to determine whether there is any indicator of
impairment. If any such indication exists, the recoverable For contract assets and trade and other receivables, FIFA has
amount of the non-financial asset or its cash-generating unit, applied a simplified approach and calculated ECLs based on
being the greater of its fair value less costs of disposal and its lifetime ECLs. For other debt financial assets (debt securities),
value in use, is estimated. An impairment loss is recognised the ECL is based on the 12-month ECL as it is assumed to have
in profit or loss whenever the carrying amount of an asset or a low credit risk. However, when there has been a significant
its cash-generating unit exceeds the respective recoverable increase in credit risk since origination, the allowance will be
amount. based on lifetime ECLs.

For financial assets measured at amortised cost, an impairment Changes in the impairment allowance are recognised in profit
allowance is determined using a forward-looking expected or loss and reflected in an allowance account against the
credit loss (ECL) approach that is based on the difference respective financial asset measured at amortised cost.
between the contractual cash flows due under the contract

S EMPLOYEE BENEFIT OBLIGATIONS

The Swiss pension plan is accounted for as a defined benefit Actuarial gains and losses on the post-employment obligation,
plan. The financial impact of this plan on the consolidated comprising the effects of changes in assumptions and
financial statements is determined in accordance with experience adjustments, as well as the difference between
the projected unit credit method and applying actuarial the theoretical and the actual income from plan assets, are
assumptions based on best estimates at the balance sheet recognised in other comprehensive income. Costs relating to
date. the administration of the pension plan are recognised in the
statement of comprehensive income.

T PROVISIONS

A provision is recognised when FIFA has a legal or constructive by discounting the expected future cash flows at a pre-tax rate
obligation as a result of a past event and it is probable that that reflects current market assessments of the time, value
an outflow of economic benefits will be required to settle the of money and, where appropriate, the risks specific to the
obligation. If the effect is material, provisions are determined liability.

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U RESERVES

Reserves consist of association capital, restricted reserves and In the event of the dissolution of FIFA, its funds shall not
translation reserves. As FIFA is an association, no dividends be distributed, but transferred to the supreme court of the
are paid. country in which the headquarters are situated. The supreme
court shall invest them in gilt-edged securities until the
Based on article 62 of the FIFA Statutes, the revenue and reestablishment of the federation.
expenditure of FIFA are managed so that they balance out
over the financial cycle. FIFA’s major duties in the future will
be guaranteed through the creation of reserves. Therefore,
the net result for the year is allocated to the reserves. Such
reserves are presented as restricted reserves in the balance
sheet.

V SIGNIFICANT ACCOUNTING JUDGEMENTS, ESTIMATES AND ASSUMPTIONS

The preparation of financial statements requires the determining how control over promised goods or services
management to make judgements, estimates and assumptions transfers to the customer. All of the above have the potential
that affect the reported amounts of assets, liabilities, income to result in a different revenue recognition pattern.
and expenses. Actual results may differ from these estimates.
The consolidated financial statements of FIFA include estimates Competition & Events expenses
and assumptions that could influence the financial statements Competitions & Events expenses are the outflow of economic
of subsequent financial years. benefits that arise in the ordinary activity of organising an
event. Incurred costs related to the FIFA World Cup™ and
Estimates and underlying assumptions are reviewed on other FIFA events are deferred and recognised in profit or loss
an ongoing basis. Revisions to accounting estimates are in the period in which the event takes place. Assumptions are
recognised in the period in which the estimate is revised and required to determine an appropriate measure of allocation
in any future periods affected: related to the FIFA World Cup and other FIFA events
expenses. All assumptions have the potential to result in a
Revenue recognition different cost recognition.
As set out in Note E, IFRS 15 – Revenue Recognition
from Contracts with Customers requires judgements and Defined benefit plans (pension benefits)
estimates. Judgement relates to the determination of The cost of the defined benefit pension plan and the present
performance obligations in each of the major revenue value of the pension obligation are determined using actuarial
streams, having the potential to impact the revenue valuations. An actuarial valuation involves making various
recognition pattern under the contract. Furthermore, assumptions that may differ from actual developments in
the allocation of consideration to different performance the future. These include the determination of the discount
obligations requires estimation of the stand-alone selling rate, future salary increases, mortality rates and future
price of each of these. Assumptions are required to pension increases. Due to the complexities involved in
determine an appropriate measure of progress when the valuation and its long-term nature, a defined benefit

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obligation is highly sensitive to changes in these assumptions. on the respective outcome – result in payment or other
All assumptions are reviewed at each reporting date (see also obligations. Provisions are recorded where a reliable estimate
Note 29, Personnel Expenses). can be made of the probable legal outcome. For provisions for
legal matters, reference is made to Note 25. For the current
Legal matters investigations conducted by the Swiss Office of the Attorney
FIFA is currently involved in a number of legal disputes arising General (“OAG”), the US Department of Justice (“DoJ”) and
from its operating activities. In some legal disputes, FIFA is contingent liabilities relating to other legal matters, reference
the defendant and thus these proceedings may – depending is made to Note 30.

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NOTES

Notes to the consolidated statement

of comprehensive income
1 REVENUE FROM TELEVISION BROADCASTING RIGHTS

in TUSD 2018 2017

Europe 897,748 6,395

Asia and North Africa 787,566 71,652
South and Central America 314,513 50,499
North America and the Caribbean 362,937 58,377
Rest of the world 85,075 13,863
Total revenue from television broadcasting rights by region 2,447,839 200,786
Other broadcasting revenue 92,352 13,799
Other FIFA event revenue 3,777 14,060
Total revenue from television broadcasting rights 2,543,968 228,645

Television broadcasting rights are granted primarily to Revenue from broadcasting rights contracts, which include
TV stations and other broadcasting institutions. These the right to broadcast other FIFA events for the years 2017
rights are granted to broadcast the television signal for and 2018, but excluding the FIFA World Cup™, is presented
a defined period in a particular territory. Revenue from as “Other FIFA event revenue”. Such other FIFA events for the
television broadcasting rights is recognised when the actual year 2018 were the FIFA U-20 Women’s World Cup France
broadcasting of the event in question takes place and is 2018, the FIFA U-17 Women’s World Cup Uruguay 2018, The
contingent on the number of broadcasting hours. As a Best FIFA Football Awards™ 2018, the FIFA Club World Cup
consequence, a comparison against previous years is not UAE 2018, the Youth Olympic Futsal Tournaments Buenos
meaningful. Revenue should be analysed considering the full Aires 2018, the Blue Stars/FIFA Youth Cup 2018 and the FIFA
four-year cycle of FIFA. eWorld Cup 2018™.

Other broadcasting revenue reflects additional revenue for In 2018, the value of services or goods received for television
services during the events in order to fulfil FIFA’s broadcasting broadcasting rights (i.e. value-in-kind revenue) amounted to
obligations. USD 2.9 million (2017: USD 0 million).

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2 REVENUE FROM MARKETING RIGHTS

in TUSD 2018 2017

FIFA Partners 695,054 185,411

FIFA World Cup Sponsors 301,620 41,030
FIFA Regional Supporters 143,488 7,382
FIFA National Supporters 3,150 11,454
Total revenue from marketing rights 1,143,312 245,277

Marketing rights provide the FIFA Partners, FIFA World Cup National Supporters only have the contractual right for one
Sponsors and Regional Supporters with access to intellectual single event in connection with the FIFA U-20 Women’s World
property by enabling them to enter into a long-term Cup France 2018, the FIFA U-17 Women’s World Cup Uruguay
strategic alliance with FIFA, which also includes a set of 2018, The Best FIFA Football Awards™ 2018, the FIFA Club
predefined rights. These rights are further split into tangible World Cup UAE 2018, the Youth Olympic Futsal Tournaments
and intangible rights. Revenue for tangible marketing rights Buenos Aires 2018, the Blue Stars/FIFA Youth Cup 2018 and
is recognised when the event in question is broadcast and the FIFA eWorld Cup 2018™. As a consequence, revenue for
is entirely dependent on the number of broadcasting hours. these contracts is recognised in the period in which the event
As such, due to the different nature and higher number takes place.
of broadcasting hours of FIFA competitions in 2018, the
revenue for the year is higher than that for 2017. A direct In 2018, the value of services or goods received for
comparison of the two years is therefore not helpful. marketing rights (i.e. value-in-kind revenue) amounted to
Revenue should be analysed considering the full four-year USD 48.3 million (2017: USD 14.8 million).
cycle of FIFA.

3 REVENUE FROM LICENSING RIGHTS

in TUSD 2018 2017

Brand licensing rights 174,592 155,472

Other licensing rights 9,981 4,739
Total revenue from licensing rights 184,573 160,211

Brand licensing rights are related to FIFA marks and brand 2018, the FIFA U-17 Women’s World Cup Uruguay 2018,
elements in connection with FIFA World Cup™ products and the The Best FIFA Football Awards™ 2018, the FIFA
other services. Club World Cup UAE 2018, the Youth Olympic Futsal
Tournaments Buenos Aires 2018, the Blue Stars/FIFA Youth
Licensing rights from products and services for other FIFA Cup 2018 and the FIFA eWorld Cup 2018™ – are presented
events in 2018 – the FIFA U-20 Women’s World Cup France as other licensing rights.

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The majority of the licensing rights contracts consist of royalty clearly exceed the minimum threshold, these have been
payments with a specified minimum guarantee threshold. estimated and included in the transaction price.
FIFA reassesses these contracts after each reporting period,
whether or not the royalty amounts to be received will exceed In 2018, the value of services or goods received for
the contractual minimum guarantee threshold. Where the licensing rights (i.e. value-in-kind revenue) amounted to
expected total royalties to be received for significant contracts USD 11.2 million (2017: USD 4.2 million).

4 REVENUE FROM HOSPITALITY/ACCOMMODATION RIGHTS AND TICKET SALES

in TUSD 2018 2017

Revenue from hospitality/accommodation rights – FIFA World Cup™ 148,297 0

Revenue from hospitality/accommodation rights – other FIFA events 292 353
Revenue from ticket sales – FIFA World Cup™ 540,554 0
Revenue from ticket sales – other FIFA events 0 22,015
Total revenue from hospitality/accommodation rights and ticket sales 689,143 22,368

Hospitality rights were granted to MATCH Hospitality AG of 3,031,768 people attended the 64 matches across
for a fixed consideration of USD 140 million plus a variable 12 stadiums, with 2,745,357 tickets sold to fans all around
profit-sharing component for the 2018 FIFA World Cup the world, producing revenue of USD 541 million.
Russia™. Revenue from hospitality/accommodation rights
– FIFA World Cup™ also includes a variable profit-sharing In the line item “Revenue from ticket sales – other FIFA
component for accommodation rights in connection with the events” are ticket sales in connection with the FIFA
2018 FIFA World Cup Russia™. Confederations Cup Russia 2017.

Revenue from ticket sales – FIFA World Cup™ consists of Ticket sales are recognised in the year the event takes
ticket sales for the 2018 FIFA World Cup Russia. A total place.

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5 OTHER REVENUE

in TUSD 2018 2017

FIFA Club World Cup 36,830 37,079

FIFA Quality Programme 11,095 9,630
Income from the sale of film and video rights 10,517 4,585
Penalties/appeals 6,651 10,356
Rent from real estate 4,174 4,485
FIFA World Football Museum 3,997 3,725
Olympic Football Tournaments Rio 2016 0 2,642
Revenue from prior cycles and other 6,694 5,199
Total other revenue 79,958 77,701

Other revenue is recognised in the accounting period in which audio-visual archive. As the FIFA World Cup™ took place
the services are rendered. In 2018, it mainly comprised revenue in 2018, the interest in archive and film products naturally
generated from the FIFA Club World Cup, income from the sale increased in comparison to 2017.
of film and video rights and the FIFA Quality Programme.
In 2017 penalties and appeals were particulary high due to a
The “FIFA Quality Programme” item contains revenue in surge in disciplinary and ethic cases.
connection with test programmes for footballs, football turfs
and goal-line technology. “Revenue from prior cycles and other” includes various smaller
sources of revenue such as revenue generated from players’
“Income from sale of film and video rights” reflects the status-related proceedings.
revenue generated from the commercialisation of FIFA’s

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6 COMPETITIONS & EVENTS

in TUSD 2018 2017

FIFA World Cup™ 1,824,118 0

FIFA Club World Cup UAE 2018 21,266 0
FIFA U-20 Women's World Cup France 2018 13,101 0
FIFA U-17 Women's World Cup Uruguay 2018 10,327 0
The Best FIFA Football Awards™ 2018 7,071 0
FIFA eWorld Cup 2018™ 4,896 0
Youth Olympic Futsal Tournaments Buenos Aires 2018 1,409 0
Blue Stars/FIFA Youth Cup 2018 917 0
FIFA U-20 World Cup Korea Republic 2017 2,474 15,929
FIFA Beach Soccer World Cup Bahamas 2017 1,760 8,173
FIFA Club World Cup UAE 2017 1,116 20,418
FIFA Confederations Cup Russia 2017 746 142,420
FIFA U-17 World Cup India 2017 115 20,517
FIFA Interactive World Cup 2017 60 3,575
The Best FIFA Football Awards™ 2017 0 4,717
Blue Stars/FIFA Youth Cup 2017 0 959
FIFA U-17 Women's World Cup Jordan 2016 0 482
FIFA U-17 World Cup Chile 2015 0 399
FIFA U-20 Women's World Cup Papua New Guinea 2016 0 149
Olympic Football Tournaments Rio 2016 0 13
FIFA Women’s World Cup Canada 2015™ 0 10
FIFA Futsal World Cup Colombia 2016 0 1
FIFA Club World Cup Japan 2015 and 2016 0 –317
FIFA events from previous cycles 1,259 –64,312
Value in kind and other 43,476 18,148
Total other FIFA events 109,993 171,281
FIFA Club Protection Programme 12,377 28,322
Personnel expenses 26,138 18,385
Depreciation of property and equipment 1,691 1,385
Total competitions & events 1,974,317 219,373

FIFA World Cup™ in profit or loss. These expenses are the outflow of economic
The 2018 FIFA World Cup Russia™ was a highly successful benefits that arise in the ordinary activity of organising the
event and a positive experience for all concerned – the event.
tournament showcased football at its best and was seamlessly
organised throughout. The amounts solely expensed for the 2018 FIFA World Cup
Russia are USD 136 million for 2015, USD 105 million for
Since the FIFA World Cup Russia took place in 2018, all related 2016, USD 235.3 million for 2017 and USD 1,347.7 million
expenses – costs incurred in the years 2015, 2016 and 2017 for 2018. Part of the expenses relates to the financing of the
as well as in the reporting year of 2018 – are fully recognised 2018 FIFA World Cup™ Local Organising Committee Russia

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6 | FINANCIAL REPORT

for a total of USD 382.7 million. Additional expenses relate have affected the expenses in the line item “FIFA events from
to the prize money of USD 400 million, host broadcasting previous cycles”. In 2018, this line item shows minor expenses
services and TV production of USD 238.6 million, the Club that are generally related to financial and legal consultations
Benefits Programme, with its contribution incentives to concerning previous tournaments.
the clubs of USD 208.9 million, and further preparatory,
organisational, post-tournament and administrative costs of Other competition-related and value-in-kind expenses are
USD 593.9 million. For further details, please refer to chapter 3 contained in the line item “Value in kind and other”. These
– Financial Overview of the 2018 FIFA World Cup Russia™. value-in-kind costs consist of predetermined services and the
delivery of goods to be used in connection with other FIFA
Other FIFA events events.
Other FIFA events for the year 2018 include the FIFA Club
World Cup UAE 2018, the FIFA U-20 Women’s World Cup FIFA Club Protection Programme
France 2018, the FIFA U-17 Women’s World Cup Uruguay Under the FIFA Club Protection Programme, clubs will be
2018, The Best FIFA Football Awards™ 2018, the FIFA eWorld compensated for any injuries due to an accident sustained by
Cup 2018™, the Youth Olympic Futsal Tournaments Buenos their players while on duty with senior men’s representative
Aires 2018 and the Blue Stars/FIFA Youth Cup 2018. “A” teams for matches on dates listed in the international
match calendar for the period between 1 January 2015 and
The expenses for the other FIFA events are generally incurred 31 December 2018. FIFA provides compensation up to a
and recognised in the year in which the events take place and maximum amount for losses incurred by the football club
include financial support for the Local Organising Committee, during the period that the football player is temporarily
prize money, travel and accommodation costs of FIFA officials totally disabled. Costs for the FIFA Club Protection Programme
and the participating teams and other expenses. are costs for FIFA and are recognised in the year they are
incurred. A total of 220 incidents were reported by clubs
In 2017, releases from provisions of USD 65 million referring under the programme in respect of accidents occurring over
to legal matters in connection with the core business of FIFA, the 2015-2018 cycle.

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7 DEVELOPMENT & EDUCATION

in TUSD 2018 2017

FIFA Forward project costs member associations 158,250 158,250

FIFA Forward operational costs member associations 105,500 105,500
FIFA Forward confederations 60,000 60,000
FIFA Forward travel and equipment 27,125 54,250
FIFA Forward zonal/regional associations 13,000 13,000
Football for Schools Programme 100,550 0
Other projects 13,254 7,658
Refereeing Assistance Programme (RAP) 9,880 7,266
Technical development programmes 7,769 9,159
Women’s football promotion 6,256 5,639
Education 4,887 4,850
FIFA Foundation 3,520 0
Sustainability, human rights and anti-discrimination 3,304 5,018
Audit and financial education 3,216 1,779
Medicine and science 1,696 1,295
Solidarity projects 0 1,026
FAP/Goal/MA programmes* 0 –13,191
Total Development & Education programmes 518,207 421,499
FIFA World Football Museum 12,039 12,277
Personnel expenses 31,860 24,365
Depreciation of property and equipment 16,363 19,366
Total Development & Education 578,469 477,507
* FAP/Goal/MA programmes for 2017 relate to the write-back of accruals related to the former Goal Programme for projects which had not yet been initiated when the FIFA Forward
Programme was introduced.

In 2018, expenses relating to the FIFA Forward Programme and operation of leagues for men, women, boys and girls, and
for the member associations, zonal/regional associations, the professionalisation of member associations’ operations, to
confederations and travel and equipment amounted to name but a few.
USD 363.9 million. Since the introduction of the programme,
a total amount of USD 1,078.6 million has been invested. FIFA Forward operational costs member associations
Please refer to chapter 4 – Investments in Football for the Each FIFA member association was also entitled to
amount of released Forward funds. USD 0.5 million per year in operational costs under the
FIFA Forward Programme. The purpose of these funds
FIFA Forward project costs member associations was to support member associations in the daily running
Under the FIFA Forward Programme, launched in May 2016, costs involved in operating a modern and professional
each of FIFA’s 211 member associations was entitled to administration. These costs cover items such as utilities,
USD 0.75 million of project funding per year. These funds were salaries, rent and many other day-to-day expenses.
made available for a variety of tailor-made projects, adapted to
the specific needs of the applicant, and released in instalments FIFA Forward confederations
as the project progressed. Throughout the cycle, FIFA invested The six confederations across the world recognised by FIFA
funds in a variety of projects across the world, including for the were entitled to USD 10 million each per year. The purpose
construction and refurbishment of infrastructure, the launch of these funds was to deliver football projects across

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the respective regions for the benefit of FIFA’s member b) to provide, to the event permissible by the applicable
associations as well as the confederations. These projects legislation, football equipment for a total amount of
covered activities such as the development of regional centres USD 90 million, which is distributed on a pro-rata basis to
of excellence, capacity-building and knowledge-sharing the participating schools via the member associations;
initiatives and regional competitions, among others. c) to facilitate a good relationship between the relevant
entities involved;
FIFA Forward travel and equipment d) to incentivise member associations that have successfully
Over the course of the cycle, 150 member associations were applied for the programme with a payment of USD 50,000
entitled to funding to cover the cost of national team travel, each to contribute towards the costs of the local
and 115 member associations were eligible for support to distribution of football equipment received from FIFA, the
cover the cost of football equipment. These funds were promotion of the Football for Schools Programme and the
reserved for those member associations that were most in capacity-building of the participating schools’ teachers.
need to ensure that their national teams (youth and senior,
boys and girls, men and women) were able to participate in Other projects
regional and international matches. Across the cycle, FIFA has increased its year-on-year
investment in the daily operational and support activities
FIFA Forward zonal/regional associations of the Member Associations Division. These activities
Under the FIFA Forward Programme, up to USD 1 million was centre around the delivery of regular missions and regional
made available in 2017 and 2018 for the organisation of workshops conducted by the regional and expert
competitions by 13 zonal/regional associations (recognised by service-based teams from FIFA’s headquarters in Zurich. The
the respective confederation) around the world to support the focus of these undertakings is the monitoring and overview
organisation of regular regional competitions for youth (boys of project delivery, as well as the delivery of educational
and girls) and women’s national teams of all ages. and capacity-building measures to ensure that all recipients
have the requisite knowledge and resources to ensure
Football for Schools Programme maximum impact of the investment funds provided by the
As part of its statutory objective to improve the game of FIFA Forward Programme. The Member Associations Division
football constantly and promote it globally in the light of also established ten FIFA Regional Development Offices
its unifying, educational, cultural and humanitarian values, across the globe that are fully resourced and staffed with
particularly through youth and development programmes, local experts experienced in football development in their
in October 2018, the FIFA Council agreed to introduce the respective regions. These dedicated local offices provide
Football for Schools Programme. regular and constant support to member associations,
assisting them in their development needs and the
The Football for Schools Programme is built on the philosophy implementation of tailor-made projects as part of the FIFA
of using football to help pupils, allowing them to be children Forward Programme.
through fun and engaging sporting activity. With this
programme, FIFA commits to developing the child first and the FIFA invested USD 2.6 million in 2018 to further enhance
football player second by providing fun games that provide and develop the FIFA Connect Programme to better support
competition along with individual and collective challenges. member associations in registering all of their development
The emphasis is also on the promotion of football’s values as a stakeholders digitally (e.g. players, coaches and referees),
metaphor for life. especially the players, moving away from traditional paper-
based registration (this programme was originally contained
The methodology behind the programme is to support the in the “Technical development programmes” line item).
teacher or leader to develop the children through the game Further expenses include the FIFA Regional Development
(blending its four key physical, tactical, psychological and social Offices (USD 1.2 million), activities and services for the
aspects) and to recreate the playground environment. benefit of member associations (USD 5.8 million), and
FIFA has the following roles and responsibilities under the general expenses for professional football services and
Football for Schools Programme: campaigns such as the FIFA World Cup Trophy Tour totalling
a) to provide the member associations and the participating USD 3.6 million.
schools, to the event permissible by the applicable
legislation, with free access to the relevant online and Refereeing Assistance Programme (RAP)
offline educational and teaching materials available under Refereeing programmes focus on improving the quality of
the programme; the top referees, assistant referees, instructors, futsal and

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beach soccer referees in all member associations via different In 2018, FIFA also launched its first-ever women’s football
activities. In 2018, FIFA delivered 230 courses to member strategy and a series of regional conferences aimed at
associations to improve the level of top referees and assistant building capacity levels and enhancing the knowledge of
referees in their territories. FIFA also provided extensive member associations in the relevant regions. Expenses for
support throughout the year for the preparation of referees such development, educational as well as promotional
and assistant referees for FIFA competitions (in particular the programmes, including the 2018 Legacy Fund, totalled
2018 FIFA World Cup Russia™ and the FIFA Women’s World USD 6.3 million.
Cup in France 2019™).
Education
The expenses include courses for the FIFA World Cups™ FIFA provides annual financial support to the International
(USD 3.3 million) and general development and equipment Centre for Sports Studies (CIES) in Neuchâtel, Switzerland.
expenses (USD 6.5 million), which also encompass the CIES provides ongoing research-based solutions and
implementation of the video assistant referee (VAR) system education to the world of sport. Contributions to the centre
that improves football by using state-of-the-art technology amounting to USD 4.9 million in 2018 also helped to deliver
in match-changing situations such as penalty decisions, goals its post-graduate programmes across the world, including
and direct red card incidents. scholarships for deserving students who otherwise would not
be able to participate.
Technical development programmes
Technical capacity-building activities were further organised FIFA Foundation
as part of the services linked to FIFA Forward. Following an Established in March 2018 as a foundation under Swiss law,
in-depth assessment of the programmes offered in previous the FIFA Foundation was created to help promote positive
years, training of technical directors and coaching instructors social change around the world and raise support for the
at member associations was increased. Exchange programmes recovery and reconstruction of damaged or destroyed sports
were introduced to provide member associations with a live infrastructure worldwide. It has an array of programmes in
platform to share best practices in various areas of football place to reach its social responsibility goals. The Community
development. Programme supports organisations that use football as a tool
for social change and improve the lives of underprivileged
A totally new approach for technical analysis at elite level was young people around the world. The Recovery Programme
launched and applied for the first time at the FIFA World Cup in supports communities hard hit by natural disasters or
Russia, culminating in the first FIFA Football Conference, which unforeseen events with solidarity and emergency funding,
brought together national coaches and technical directors while the aim of the Football for Girls in the Middle East
from all over the world in London to present their findings and project is to break down barriers and empower local
observe trends. cummunities and women in the Middle East to participate in
the game. Finally, the FIFA Legends programme contributes
In detail, technical and equipment-related expenses include to the FIFA Foundation’s Community Programme by bringing
the FIFA Football Conference (USD 2 million), educational together former top players to visit and interact with fans
courses and seminars (USD 1 million), competitions and create unique moments.
and development programmes such as grassroots and
youth development initiatives supporting competitions As the new FIFA Foundation began towards the middle of
(USD 2.5 million), as well as consultancy and technical services 2018, the expenses relate primarily to its formation and
(USD 2.2 million). introduction.

Women’s football promotion Sustainability, human rights and anti-discrimination

Promoting women’s football is an integral part of the work In 2018, FIFA continued its efforts across the social,
carried out by FIFA, and in 2018, an extensive array of projects environmental and economic spheres of sustainability. It
was undertaken to enhance participation, build elite pathways successfully established the monitoring system of working
for girls and improve the capacity levels of coaches, referees conditions in Russia and held the second annual meeting of
and administrators. Similarly, FIFA delivered leadership courses the independent Human Rights Advisory Board in Doha. A
for female youth players, women’s football administrators and wide range of operations was implemented in the stadiums
top-level female managers at member associations. Player as part of the 2018 FIFA World Cup™ Sustainability Strategy,
tracking was introduced for the first time at the FIFA U-17 and including a comprehensive accessibility programme and
U-20 World Cups. measures to ensure a tobacco-free event.

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As part of its Anti-Discrimination Monitoring System, FAP/Goal/MA programmes

FIFA trained and deployed three observers at each of the Numerous projects approved and accrued under previous
64 matches of the 2018 FIFA World Cup. FIFA also organised programmes were released during 2017. It became evident
the FIFA Foundation Festival 2018 in Moscow, which during that year that specific projects under previous
brought together 297 participants from delegations of programmes such as Goal, Challenger, Win-Win and football
48 non-governmental organisations from 37 countries. management programmes were no longer viable and had no
Furthermore, and confirming its commitment to climate reasonable likelihood of completion in the future, resulting in
action, FIFA offset all of its own unavoidable greenhouse gas a credit to this line item for these projects in 2017. In 2018,
emissions through verified low-carbon projects in Russia and many of the programmes concerned were concluded, leaving
through United Nations-backed projects in other countries. the line item with no value.
Expenses relating to sustainability activities show a total of
USD 2.3 million. Activities related to the Anti-Discrimination FIFA World Football Museum
Monitoring System resulted in expenses totalling A restructuring plan was successfully implemented, with the
USD 1 million. focus clearly on content, pursuing the museum’s cultural
mission and preserving and continuing football’s heritage
Audit and financial education following a new strategic and economic orientation. Having
To match the significantly increased investment in the recorded a monthly average of around 10,000 visitors in
development of member associations, confederations and the first two years of 2016 and 2017, the Zurich-based
regional/zonal associations, FIFA has substantially increased museum grew this figure significantly in 2018, welcoming
its monitoring and controlling activities over the use of these 141,069 visitors through its doors – a 19% increase. Despite
funds. It has also introduced several initiatives and activities this growth, operational expenses were solid in 2018
aimed at promoting better standards of financial good compared to 2017.
governance and transparency by the funding beneficiaries.
These activities involve the engagement of globally recognised Personnel expenses
audit and assurance firms to perform independent reviews of FIFA is further expanding its endeavours and involvement
the use of development funds and compliance with relevant in development activities, resulting in an increase in its
provisions of the FIFA Forward Regulations. workforce. For further details, please refer to Note 29 –
Personnel Expenses.
Medicine and science
Working closely with medical science experts, the FIFA Medical Depreciation and impairment of property and equipment
and Anti-Doping Department develops ways of building a Depreciation of property and equipment in 2018 was mainly
healthier future through football, raising awareness on health driven by the recognition of the assets of the FIFA World
issues through its medical campaigns, tackling doping in Football Museum. FIFA did not identify any indicators for
football and harnessing the game’s power and popularity impairment in 2018.
to promote healthier lifestyles around the world. The
department’s main investments were in the anti-doping sector
(USD 1.2 million) and other medical fields, such as research,
continued education and public affairs (USD 0.5 million).

Solidarity projects
FIFA provides emergency funding to member associations
that have been the victim of natural disasters. In such cases,
member associations are provided with financial support to
repair their football infrastructure and recommence footballing
activities in the territory.

With the establishment of the FIFA Foundation, emergency

funding to member associations has been shifted to the
foundation.

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8 FOOTBALL GOVERNANCE

in TUSD 2018 2017

Football governance bodies and third-party services 12,928 9,785

Personnel expenses 16,740 13,301
Depreciation of property and equipment 1,811 1,479
Total Football Governance 31,479 24,565

Football Governance consists of all expenditure in relation to of the equal representation of players (USD 2.2 million). They
FIFA’s statutory objective to govern association football and also include costs relating to preventing match manipulation
related matters. It is divided into football governance bodies as part of its agreement with Sportradar (USD 2.8 million)
and third-party services, personnel expenses and depreciation and players’ status proceedings under the Transfer Matching
of property and equipment. Any governance related to FIFA System (USD 1.6 million). In addition, it contains expenses
itself is presented under FIFA Governance & Administration relating to The International Football Association Board
expenses (see Note 9). concerning the Laws of the Game of association football
(USD 1.9 million), as well as general professional football
The expenses of the above football governance bodies services (USD 2 million).
and third-party services in 2018 comprise the costs of the
judicial bodies (Disciplinary, Ethics and Appeal Committees – In 2018, FIFA continued to expand its activities in the
USD 2.4 million) and of the Players’ Status Committee as part establishment and monitoring of policies relating to Football
of administrating player regulations plus those of the Dispute Governance, as a result of which personnel expenses increased
Resolution Chamber, which provides arbitration on the basis accordingly in line with the additonal effort.

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9 FIFA GOVERNANCE & ADMINISTRATION

in TUSD 2018 2017

Information technology 19,947 17,300

Communications 18,619 17,863
Expected credit losses of receivables and contract assets 16,637 415
Annual FIFA Congress and committees 16,615 14,810
Legal costs 9,390 8,921
Buildings and maintenance 6,491 7,411
Legal and governance costs related to investigations 5,904 14,377
Other 17,246 15,697
Personnel expenses 72,244 61,006
Depreciation of property and equipment/investment properties 7,493 6,822
Impairment of investment properties 0 0
Total FIFA Governance & Administration 190,586 164,622

FIFA Governance & Administration comprises all costs related committee meetings over the year totalled USD 2.9 million.
to the governance and administration of FIFA. The line item also includes expenses for travel and
accommodation as well as administrative costs relating to
Information technology expenses consist of costs incurred in FIFA Council members (USD 2.6 million).
creating and maintaining a functional IT system infrastructure,
including expenses for the Integrated Football and Event “Legal costs” cover various legal matters with respect to
System, application technology projects and corresponding disputes and consultations in relation to the core business of
implementation activities (USD 7.3 million), infrastructural FIFA. For further details, please refer to Note 25 – Provisions.
and operational costs (USD 10 million), as well as specific IT
governance-related expenses (USD 2.6 million). “Buildings and maintenance” refers to the ongoing
maintenance of FIFA’s properties and includes its preventative
Communications-related expenses refer mainly to developing activities as well as running costs, such as electricity, gas
and deploying ICT technologies (USD 11.3 million), and water. In 2018, maintenance expenses amounted to
but also applying and using media and digital media USD 3.1 million for the Home of FIFA and to USD 2.3 million
(USD 1.1 million), producing and offering editorial content for the other properties. Other general servicing costs for the
services (USD 2.8 million) as well as establishing and deploying FIFA buildings amounted to USD 1.1 million.
communicational and strategical skills (USD 3.4 million).
“Other” includes costs relating to development, travel and
Expected credit losses of receivables and contract assets accommodation (USD 3.9 million), public relations,
amount to USD 16.6 million and represent impairments of advertising and entertainment (USD 0.8 million), value in
overdue trade receivables from contracts with customers. kind (USD 0.8 million), information technology relating to
financial services (USD 1 million), consultancy, audit and
The costs of the annual FIFA Congress and the meetings of translation (USD 6.6 million), insurance (USD 2.5 million),
the various committees comprise those incurred in connection as well as office supplies and administrative activities
with the 68th FIFA Congress in Moscow, any costs of the (USD 1.7 million).
meetings of the standing committees (except for the Players’
Status Committee), as well as travel and accommodation “Personnel expenses” relate to FIFA Governance &
costs of committee members and of the official delegates Administration and internal audit employees, as well as
of the 211 member associations, the six confederations and the FIFA Council members. With FIFA intensifying its
guests of the FIFA Congress, which are paid by FIFA. Costs insourcing strategies, personnel resources increased. For
relating to organising and holding the annual FIFA Congress in further details, please refer to Note 29 – Personnel Expenses.
Moscow amounted to USD 11 million, while relevant standing

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10 MARKETING & TV BROADCASTING

in TUSD 2018 2017

Broadcasting and media rights 15,891 8,770

Marketing rights 9,400 6,575
Licensing rights 1,605 4,585
Sales commission and other 71,894 3,121
Personnel expenses 16,197 12,833
Depreciation of property and equipment 1,316 1,197
Total Marketing & TV Broadcasting 116,303 37,081

The Marketing & TV Broadcasting expenses reflect the With the FIFA World Cup™ Russia taking place in 2018,
costs incurred by the FIFA Commercial Division for the services to rights licensees naturally increased, ensuring that all
commercialisation of marketing and broadcasting rights. More rights and obligations were delivered and adhered to properly.
precisely, the above represent costs incurred by FIFA to ensure
and provide correct oversight, assistance and promotional “Sales commission and other” mainly relates to recognised
activities for rights which have been transferred to Commercial agents’ fees and value-in-kind expenses. In 2018, sales
Affiliates. commission costs were amortised in profit or loss, following
the IFRS 15 revenue pattern of the relevant underlying revenue
contracts (see Note 17 – Contract Assets).

11 FINANCIAL COSTS

in TUSD 2018 2017

Interest expenses 7,540 4,066

Expenses from debt securities 226 1,069
Foreign currency losses 84,673 62,351
Losses from financial instruments at fair value through profit or loss 88,505 33,354
Other financial expenses 8,864 0
Total financial costs 189,808 100,840

The overriding long-term objective of FIFA’s investment policy EUR and RUB. Foreign currency losses in 2017 were affected
is the preservation of the real value of FIFA’s financial assets. by a one-off impact resulting from the recycling of incurred
FIFA continued to focus on maintaining a strong and reliable currency translation adjustments (CTAs, equity) into financial
portfolio, which is why only counterparties with good or very costs as a local subsidiary ceased all business activities.
good credit ratings were chosen. In addition, in 2018, efforts
were concentrated on optimising the yield achieved in the Losses from financial instruments at fair value through profit
area of liquidity (please refer to Note 12 – Financial Income). or loss include losses on derivatives that are not accounted
for hedging purposes.
Foreign currency losses mainly result from the valuation of
net assets denominated in foreign currencies such as CHF,

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12 FINANCIAL INCOME

in TUSD 2018 2017

Interest income from cash and cash equivalents 20,869 21,611

Income from deposits and debt securities 31,861 18,797
Foreign currency gains 72,350 27,606
Gains from financial instruments at fair value through profit or loss 157,890 31,229
Total financial income 282,970 99,243

Foreign currency gains mainly result from the valuation of net Gains from financial instruments at fair value through profit
assets denominated in foreign currencies such as CHF, EUR include income on derivatives that are not accounted for
and RUB. hedging purposes.

13 TAXES AND DUTIES

in TUSD 2018 2017

Taxes and duties 28,965 979

Total taxes and duties 28,965 979

Pursuant to the Swiss taxation rules, the statutory financial tax laws. The final assessment with the tax authority will
statements are the basis for taxation. In FIFA’s statutory happen after the completion of the four-year cycle and is
financial statements, the character of a non-profit based on the final assessment of the required funds and
organisation, the obligation to spend the net result, reserves reserves. The normal tax rate for associations is applicable.
and funds on the development of football, the four-year FIFA’s subsidiaries are taxed based on the applicable local tax
accounting cycle, and the financial risks inherent to FIFA’s core laws.
event – the FIFA World Cup™ – are duly considered. FIFA’s
restricted reserves are reviewed on a regular basis to assess This position includes all non-recoverable taxes and duties
whether they are commercially justified as per the applicable borne by FIFA or its subsidiaries.

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NOTES

Notes to the consolidated

balance sheet
14 CASH AND CASH EQUIVALENTS

in TUSD 31 Dec 2018 31 Dec 2017

Cash on hand, post and bank accounts 272,502 387,074

Short-term deposits with maturities of up to 3 months 559,895 565,891
Total cash and cash equivalents 832,397 952,965

Restricted cash and cash equivalents amounted to

USD 12.3 million in 2018 (2017: USD 6.4 million), which are
related to the margin accounts, and the balances are therefore
not immediately available for general use by FIFA.

15 RECEIVABLES

in TUSD 31 Dec 2018 31 Dec 2017 1

Receivables from the sale of rights

Due from third parties 181,302 485,272
Provision for bad debts –16,287 –436
Total receivables from the sale of rights 165,015 484,836
Other receivables
Due from member associations and confederations 17,973 20,064
Due from third parties 31,570 21,293
Provision for bad debts –2,149 –1,568
Total other receivables 47,394 39,789
Total receivables, net 212,409 524,625
1
Provision for bad debts in 2017 was determined based on the incurred credit loss model required by IAS 39, while in 2018, it was based on the expected credit loss model required by
IFRS 9. According to IFRS 9, it is no longer necessary for a loss event to occur before an impairment loss is recognised. FIFA incorporates forward-looking information into its historical
customer default rates, grouping receivables by customer sector and credit rating and taking into account the existence of collateral, if any.

The majority of the open receivables from the sale of rights FIFA receives payments from customers based on a billing
relates to contractual payments from broadcasters and schedule, as established in the contracts with customers.
sponsors for the 2018 FIFA World Cup™, which are due in Accounts receivable are unconditional, as the instalments are
2019. non-cancellable and non-refundable once received.

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Provisions for bad debts

in TUSD 2018 2017

Balance as at 1 January 2,004 1,646

Use / Release –1,835 –101
Additions 18,270 457
Foreign exchange effect –3 2
Balance as at 31 December 18,436 2,004

Additions to bad debt provisions are related to an impairment

of overdue trade receivables from contracts with customers.
The additions are not related to the changes in the impairment
model required by the new accounting standard IFRS 9.

Ageing analysis of receivables

in TUSD 31 Dec 2018 31 Dec 2017

Not due 209,013 459,011

Overdue – less than 30 days 2,314 25,879
Overdue – less than 60 days 1,017 30,604
Overdue – more than 60 days 18,501 11,135
Total receivables 230,845 526,629

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16 PREPAID EXPENSES AND OTHER ACCRUED INCOME

in TUSD 31 Dec 2018 31 Dec 2017

Prepaid expenses 205,960 594,405

Other accrued income 23,998 9,073
Total current prepaid expenses and other accrued income 229,958 603,478

Prepaid expenses 22,199 14,431

Total non-current prepaid expenses 22,199 14,431

Current prepaid expenses decreased significantly compared

to 31 December 2017 as deferred costs relating to the 2018
FIFA World Cup Russia™ were recognised in profit and loss
during 2018.

17 CONTRACT ASSETS

in TUSD 31 Dec 2018 31 Dec 2017

Contract assets 47,923 52,036

Contract acquisition costs 0 33,540
Total contract assets 47,923 85,576

Contract assets relate to FIFA’s rights of consideration for Significant changes in contract asset balances during the
services provided. period are as follows:

in TUSD 2018 2017

Contract assets as at 1 January 52,036 132,717

Transfers from contract assets recognised at the beginning of the period to receivables and increase as
–4,113 –80,681
a result of changes in the measure of progress
Contract assets as at 31 December 47,923 52,036

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FIFA has recognised contract acquisition costs arising from The contract acquisition costs are amortised in line with
the capitalisation of incremental agency fees. These costs the pattern of when services are actually provided to the
have been incurred in order to obtain certain Asian television customers.
broadcasting rights and FIFA Partner contracts.

in TUSD 2018 2017

Contract acquisition costs as at 1 January 33,540 9,484

Costs of obtaining contracts during the year 27,759 27,177
Amortisation recognised as cost of providing services during the year –61,299 –3,120
Contract cost assets as at 31 December 0 33,540

in TUSD 2018

Aggregate amount of the transaction price allocated to long-term contracts for the 2019–2022 cycle
4,578,419
that are partially or fully unsatisfied as at 31 December
Thereof
– Television broadcasting rights 3,035,864
– Marketing rights 1,266,737
– Licensing rights 55,818
– Hospitality rights and ticket sales 160,000
– Other revenue 60,000

The above table includes revenue expected to be recognised 31 December 2018, which is expected to be recognised
in FIFA’s current four-year business cycle ending with the in the cycles ending in 2026 and 2030, amounts to
FIFA World Cup™ in 2022 and is related to performance USD 4,013 million. Contracted revenue will be recognised in
obligations that are unsatisfied during the reporting period. line with the transfer of control over services as described in
Revenue from unsatisfied performance obligations at Note E.

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18 PROPERTY AND EQUIPMENT

Office
Operational Assets under
in TUSD Land and other Total
buildings construction
equipment

Cost
Balance as at 1 January 2017 411,398 0 15,124 33,402 459,924
Additions 43 3,730 0 838 4,611
Reclassifications 0 0 0 0 0
Foreign exchange effects 0 0 0 0 0
Balance as at 31 December 2017 411,441 3,730 15,124 34,240 464,535
Additions 65 5,113 0 587 5,765
Reclassifications –4,111 –5,642 0 4,306 –5,447
Foreign exchange effects –1,092 0 0 0 –1,092
Balance as at 31 December 2018 406,303 3,201 15,124 39,133 463,761

Accumulated depreciation
Balance as at 1 January 2017 153,775 0 0 23,533 177,308
Depreciation 26,421 0 0 1,951 28,372
Impairment 0 0 0 0 0
Foreign exchange effects 0 0 0 0 0
Balance as at 31 December 2017 180,196 0 0 25,484 205,680
Depreciation 22,864 0 0 2,300 25,164
Impairment 0 0 0 0 0
Reclassifications –748 0 0 748 0
Foreign exchange effects –361 0 0 –251 –612
Balance as at 31 December 2018 201,951 0 0 28,281 230,232

Net carrying amount

As at 31 December 2017 231,245 3,730 15,124 8,756 258,855
As at 31 December 2018 204,352 3,201 15,124 10,852 233,529

The category “Operational buildings” refers to the Home of In 2018, assets of the FIFA World Football Museum are
FIFA, the FIFA World Football Museum and two other buildings included under “Operational buildings” and “Office and
in Zurich. other equipment”, being leasehold improvements with a net
carrying amount of USD 128.6 million.
The FIFA World Football Museum opened in February 2016
primarily with the objective of brand-building and education. In 2018, FIFA evaluated key assumptions used for any
FIFA’s management has assessed that the museum should not indicator which requires an impairment test to be performed.
be considered a separate cash-generating unit (CGU) for the Based on this analysis, FIFA did not identify any indicators for
purposes of impairment testing. Residential apartments have impairment and therefore did not recognise any impairment
been identified as a separate CGU. for property and equipment in 2018.

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19 INTANGIBLE ASSETS

in TUSD Total

Cost
Balance as at 1 January 2017 0
Additions 0
Balance as at 31 December 2017 0
Additions 578
Reclassifications 5,447
Balance as at 31 December 2018 6,025

Accumulated depreciation
Balance as at 1 January 2017 0
Depreciation 0
Impairment 0
Foreign exchange effects 0
Balance as at 31 December 2017 0
Depreciation 1,706
Foreign exchange effects 0
Balance as at 31 December 2018 1,706

Net carrying amount

As at 31 December 2017 0
As at 31 December 2018 4,319

In line with a key FIFA 2.0 objective – to build a stronger The depreciation of the ERP system amounts to
institution – FIFA launched its Harmonisation of Processes USD 1.7 million for 2018. IT and communication systems are
Programme in 2017, which included the implementation of an depreciated on a straight-line basis over the estimated useful
enterprise resource planning (ERP) solution. life of three years.

As the preparation work for migration and introduction of the The intangible assets also include other related software
new ERP system took place in 2017, the total acquisition costs amounting to USD 0.6 million.
of USD 5.4 million were initially recognised under “assets
under construction” (please refer to Note 18 – Property and
Equipment). Since the changes to processes and systems took
effect in January 2018, the total amount was reclassified from
assets under construction to intangible assets.

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20 INVESTMENT PROPERTIES

in TUSD Total

Cost
Balance as at 1 January 2017 39,923
Additions 0
Foreign exchange effects 0
Balance as at 31 December 2017 39,923
Additions 0
Foreign exchange effects –242
Balance as at 31 December 2018 39,681

Accumulated depreciation
Balance as at 1 January 2017 10,163
Depreciation 1,876
Impairment 0
Foreign exchange effects 0
Balance as at 31 December 2017 12,039
Depreciation 1,805
Impairment 0
Foreign exchange effects –87
Balance as at 31 December 2018 13,758

Net carrying amount

As at 31 December 2017 27,884
As at 31 December 2018 25,923

On 28 October 2014, FIFA acquired the Hotel Ascot in Zurich, The fair value measurement of investment property has been
which is classified as an investment property. In 2018, FIFA categorised as a level-3 fair value based on the inputs to the
evaluated key assumptions used for any indicator which valuation technique used. The rental income relating to the
requires an impairment test to be performed. Based on this Hotel Ascot amounted to USD 1.3 million in 2018 (2017:
analysis, FIFA did not identify any indicators for impairment USD 1.3 million), whereas direct related costs incurred were
and therefore did not recognise any impairment for the USD 0.1 million (2017: USD 0.1 million).
investment property of the Hotel Ascot in 2018.

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21 FINANCIAL ASSETS

in TUSD 31 Dec 2018 31 Dec 2017

Debt securities 400,287 99,362

Deposits 706,580 466,618
Loans 759,207 447,210
Current financial assets 1,866,074 1,013,190
Debt securities 704,937 738,850
Deposits 190,136 177,767
Equity securities 834 803
Loans 1,495 7,500
Non-current financial assets 897,402 924,920
Total financial assets 2,763,476 1,938,110

In compliance with the investment policy, FIFA’s financial assets

are invested in short-term and long-term bonds, loans and
deposits. Loans are granted mainly to Swiss public authorities.

22 PAYABLES

in TUSD 31 Dec 2018 31 Dec 2017

Due to member associations and confederations 32,304 55,359

Due to related parties 153 1,523
Due to third parties 84,288 73,199
Total payables 116,745 130,081

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23 ACCRUED EXPENSES

in TUSD 31 Dec 2018 31 Dec 2017

FIFA World Cup™ and other FIFA events 189,767 10,496

Development programmes 564,837 458,972
Other accrued expenses 31,163 50,865
Total current accrued expenses 785,767 520,333

Other accrued expenses 102,221 70,638

Total non-current accrued expenses 102,221 70,638

The increase in accrued expenses is mainly driven by In addition to the Football for Schools Programme accruals,
more development programme accruals in connection the line item “Development programmes” also includes
with the Football for Schools Programme (please refer to accruals relating to FIFA Forward Programme 1.0, legacy funds
Note 7 – Development & Education) and additional accrued and previous development programmes.
expenses relating to the FIFA World Cup™ (please refer to
Note 6 – Competitions & Events).

24 CONTRACT LIABILITIES

in TUSD 2018 2017

Current contract liability as at 1 January 2,392,143 1,237,600

Increase due to cash received and decrease as a result of changes in the measure of progress –2,134,095 1,154,543
Current contract liability as at 31 December 258,048 2,392,143

Non-current contract liability as at 1 January 89,309 86,069

Increase due to cash received and decrease as a result of changes in the measure of progress –9,144 3,240
Non-current contract liability as at 31 December 80,165 89,309

Contract liabilities relate to payments received in advance of recognised as revenue when FIFA satisfies its contractually
FIFA’s performance under a contract. Contract liabilities are agreed performance obligations to the customer.

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25 PROVISIONS

in TUSD 2018 2017

Balance as at 1 January 197,000 261,998

Provisions made during the year 54,440 0
Provisions released during the year –1,657 –64,998
Provisions used during the year –2,980 0
Exchange differences –31,411 0
Balance as at 31 December 215,392 197,000

The provisions cover various legal matters with respect to such proceedings. In accordance with acknowledged rules,
disputes of the core business of FIFA. No detailed information provisions are recognised if and when an obligation has arisen
can be provided at this point since legal disputes and their from a past event, it is probable that FIFA will be required to
corresponding timing of settlement are sensitive matters. settle the obligation, and a reliable estimate can be made of
The mere fact that a provision for certain matters has been the amount of the obligation.
set up might be misinterpreted to prejudice FIFA’s position in

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26 RESERVES

Association capital Translation reserves

The association capital is CHF 5 million. The translation reserves comprise all foreign currency
differences arising from the translation of the financial
Restricted reserves statements of foreign operations.
Pursuant to article 62 of the FIFA Statutes, FIFA has to balance
out revenue and expenditure over the financial period and Capital management
build up sufficient reserves to guarantee the fulfilment of its FIFA was established in the legal form of an association
major duties. in accordance with articles 60ff. of the Swiss Civil Code.
Pursuant to article 2 of its Statutes, FIFA’s objective is to
The purpose of the reserves is to protect FIFA against risks and improve the game of football constantly and promote
unforeseen events, in particular in relation to the FIFA World it globally, particularly through youth and development
Cup™. The financial dependency of FIFA on the FIFA World programmes. FIFA is a non-profit organisation and is obliged
Cup, which takes place only every four years, needs to be to spend its results, reserves and funds for this purpose. As
considered, since the FIFA World Cup is FIFA’s main revenue FIFA is an association, no dividends are paid.
source. The restricted reserves cover, in particular, future non-
profit activities, such as development programmes and other In the event of the dissolution of FIFA, its funds shall not
FIFA events. be distributed, but transferred to the supreme court of the
country in which the headquarters are situated. The supreme
The use of the reserves is restricted to FIFA’s statutory duties such court shall invest them in gilt-edged securities until the re-
as the organisation of international competitions – in particular establishment of the federation.
the FIFA World Cup – and the implementation of football-related
development programmes. FIFA’s goal is to maintain its solid reserve level in order to cover
inherent risks in connection with the FIFA World Cup and to
Restricted reserves include remeasurement gains and losses on finance its non-profit activities, especially future development
the net post-employment benefit obligation. activities and other FIFA events.

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NOTES

Other disclosures
27 FINANCIAL RISK MANAGEMENT

a) Accounting classifications and fair value measurements

Financial assets/
liabilities at fair Financial assets at Financial liabilities
31 December 2018 in TUSD Total
value through e c e c
fi

Financial assets measured at fair value

Derivative financial assets 16,529 0 0 16,529
Equity securities 834 0 0 834
Debt securities 431,402 0 0 431,402
Total 448,765 0 0 448,765
Financial assets measured at amortised cost
Cash and cash equivalents 0 832,397 0 832,397
Receivables 0 212,409 0 212,409
Deposits 0 896,716 0 896,716
Debt securities 0 673,822 0 673,822
Loans 0 760,702 0 760,702
Total 0 3,376,046 0 3,376,046
Financial liabilities measured at fair value
Derivative financial liabilities 6,606 0 0 6,606
Total 6,606 0 0 6,606
Financial liabilities measured at amortised cost
Payables 0 0 116,745 116,745
Total 0 0 116,745 116,745

Fair value disclosure: equity securities and debt securities are traded in active markets and the fair value is based on unadjusted quoted market prices on the balance sheet date
(Level 1). Derivatives are not traded in active markets and the fair value on the balance sheet is determined by using valuation techniques (Level 2) with observable market data.
No transfer was made between Level 1 and Level 2 in the financial years 2017 and 2018. FIFA has not disclosed the fair values for financial instruments such as short-term
receivables and payables because their carrying amounts are a reasonable approximation of fair value.

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Carrying amount Fair value

31 December 2018 in TUSD Total Level 1 Level 2 Level 3

Financial assets measured at fair value

Derivative financial assets 16,529 16,529
Equity securities 834 834
Debt securities 431,402 431,402
Total 448,765
Financial assets not measured at fair value
Cash and cash equivalents 832,397
Receivables 212,409
Deposits 896,716
Debt securities 673,822 677,700
Loans 760,702
Total 3,376,046
Financial liabilities measured at fair value
Derivative financial liabilities 6,606 6,606
Total 6,606
Financial liabilities not measured at fair value
Payables 116,745
Total 116,745

Fair value measurements and disclosure of assets If the inputs used to measure the fair value of an asset or
and liabilities a liability are categorised in different levels of the fair value
When measuring the fair value of an asset or a liability, the hierarchy, then the fair value measurement is categorised in
group uses observable market data as far as possible. Fair its entirety at the lowest level input that is significant to the
values are categorised into different levels in a fair value entire measurement.
hierarchy based on the inputs used in the valuation techniques
as follows:

1) Level 1: quoted prices (unadjusted) in active markets

for identical assets or liabilities.
2) Level 2: inputs other than quoted prices included in Level 1
that are observable for the asset or liability, either directly
(i.e. as prices) or indirectly (i.e. derived from prices).
3) Level 3: inputs for the asset or liability that are not
based on observable market data (unobservable inputs).

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Financial assets/
liabilities at fair Financial liabilities
31 December 2017 in TUSD e Total
value through- receivables e c
fi

Financial assets measured at fair value

Derivative financial assets 10,773 0 0 0 10,773
Equity securities 803 0 0 0 803
Debt securities 149,432 0 0 0 149,432
Total 161,008 0 0 0 161,008
Financial assets measured at amortised cost
Cash and cash equivalents1 0 0 952,965 0 952,965
Receivables1 0 0 524,625 0 524,625
Deposits1 0 0 644,385 0 644,385
Debt securities1 0 688,780 0 0 688,780
Loans1 0 0 454,710 0 454,710
Total 0 688,780 2,576,685 0 3,265,465
Financial liabilities measured at fair value
Derivative financial liabilities 13,003 0 0 0 13,003
Total 13,003 0 0 0 13,003
Financial liabilities measured at amortised
cost
Payables 0 0 0 130,081 130,081
Total 0 0 0 130,081 130,081

1
Financial assets previously classified as "Held-to-maturity" and "Loans and receivables" under IAS 39 have now been classified as "financial assets at amortised cost" under IFRS 9.
There has been no change in the measurement basis of amortised costs under either IFRS 9 or IAS 39.

Fair value disclosure: equity securities and debt securities are traded in active markets and the fair value is based on unadjusted quoted market prices on the balance sheet date
(Level 1). Derivatives are not traded in active markets and the fair value on the balance sheet is determined by using valuation techniques (Level 2) with observable market data.
No transfer was made between Level 1 and Level 2 in the financial years 2017 and 2018. FIFA has not disclosed the fair values for financial instruments such as short-term
receivables and payables because their carrying amounts are a reasonable approximation of fair value.

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Carrying amount Fair value

31 December 2017 in TUSD Total Level 1 Level 2 Level 3

Financial assets measured at fair value

Derivative financial assets 10,773 10,773
Equity securities 803 803
Debt securities 149,432 149,432
Total 161,008
Financial assets not measured at fair value
Cash and cash equivalents 952,965
Receivables 524,625
Deposits 644,385
Debt securities 688,780 695,697
Loans 454,710
Total 3,265,465
Financial liabilities measured at fair value
Derivative financial liabilities 13,003 13,003
Total 13,003
Financial liabilities not measured at fair value
Payables 130,081
Total 130,081

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b) Financial risk management As at 31 December 2017 and 31 December 2018, there

FIFA is exposed to currency and interest risks as well as credit was no interest rate risk arising from financing transactions
and liquidity risks in the course of its normal operations. because FIFA is fully self-financed.

Credit risk Foreign currency risk

In line with FIFA’s marketing and TV strategy, FIFA sold the FIFA’s functional currency is USD because the majority of its
television broadcasting rights in the key markets for the cash flows are denominated in USD. Exposure to foreign
final competitions of the FIFA World Cups™ directly to currency exchange rates arises from transactions denominated
broadcasters. in currencies other than USD, especially in EUR, CHF, GBP and
RUB.
The revenue from television and marketing rights is received
from large multinational companies and public broadcasters. FIFA receives foreign currency cash inflows in the form of
Part of the outstanding revenue is also covered by bank revenue from the sale of certain rights denominated in EUR,
guarantees. Additionally, the contracts include a default GBP, RUB or CHF. On the other hand, FIFA has substantial costs,
clause, whereby the contract terminates as soon as one party especially employee costs and operating costs in connection
is in default. In the event of a default, FIFA is not required with FIFA’s offices in Zurich, denominated in CHF. The
to reimburse any of the services or contributions received. Controlling & Strategic Planning Department regularly forecasts
FIFA is also entitled to replace terminated contracts with new the liquidity and foreign exchange requirements. If any foreign
marketing or broadcasting agreements. currency risks are identified, FIFA uses derivative products to
hedge this exposure (see also Note 28).
Material credit risks could arise if several parties were unable
to meet their contractual obligations. FIFA’s management As at 31 December 2018, FIFA is exposed to the following
monitors the credit standing of the Commercial Affiliates very foreign exchange fluctuation risks:
closely on an ongoing basis. Given their good credit ratings • If the EUR had gained 10% against the USD as at
and the high diversification of the portfolio of Commercial 31 December 2018, the impact on the net result would
Affiliates, the management believes that this scenario is very have been USD +4.2 million (2017: USD -9.9 million).
unlikely to occur. • If the CHF had gained 10% against the USD as at
31 December 2018, the impact on the net result would
The cash and cash equivalents are held with bank and have been USD +5.4 million (2017: USD +6.4 million).
financial institution counterparties with a rating equivalent • If the RUB had gained 10% against the USD as at
to “A” or higher in S&P ratings. Fixed-income investments 31 December 2018, the impact on the net result would
with residual terms to maturity of 12 months or less are only have been USD -0.3 million (2017: USD -8.2 million).
executed with borrowers with a short-term rating of “A-3” • If the BRL had gained 10% against the USD as at
or higher. Investments in bonds are only executed in listed, 31 December 2018, the impact on the net result would
tradable bonds issued by borrowers with a “BBB-” rating or have been USD +0.2 million (2017: USD +0.9 million).
higher. Derivative financial instruments are executed only with • If the GBP had gained 10% against the USD as at
counterparties with high credit ratings. The carrying amount 31 December 2018, the impact on the net result would have
of the financial assets represents the maximum exposure to been USD +0.1 million (2017: USD -0.4 million).
credit risk.
This fluctuation analysis can be applied using the same
Interest rate risk method in reverse (a decrease of 10%). It only shows the
FIFA is exposed to fluctuations in interest rates on its term effect from a risk management perspective and not realised
placements in fixed-term deposits. Since the interest rate of gains or losses.
all term deposits is fixed at year-end, there is no direct interest
rate exposure. Some debt securities are linked to LIBOR.
Therefore, there is a certain exposure on future cash inflows
due to possible changes in interest rates. This interest rate risk
is assessed as low.

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Positions exposed to foreign currency risk as at 31 December 2018

CHF EUR RUB BRL GBP

Cash and cash equivalents 21,945 11,008 113,008 2,426 749

Receivables 74,920 42,141 19,115 5,729 0
Financial assets 0 0 0 0 0
Total assets in foreign currency 96,865 53,149 132,123 8,155 749
Payables 42,865 16,422 316,368 16 65
Total liabilities in foreign currency 42,865 16,422 316,368 16 65
Net exposure in foreign currency 54,000 36,727 –184,245 8,139 684
Net exposure in functional currency (USD) 54,308 42,007 –2,645 2,098 867

Positions exposed to foreign currency risk as at 31 December 2017

CHF EUR RUB BRL GBP

Cash and cash equivalents 55,812 29,880 1,102,679 27,690 13,867

Receivables 28,219 77,936 14,318 17,859 13,786
Financial assets 0 0 0 0 0
Total assets in foreign currency 84,031 107,816 1,116,997 45,549 27,653
Payables 21,153 2,927 1,021,602 16,444 427
Total liabilities in foreign currency 21,153 2,927 1,021,602 16,444 427
Net exposure in foreign currency 62,878 104,889 95,395 29,105 27,226
Net exposure in functional currency (USD) 63,627 125,321 1,658 8,790 36,635

Liquidity risk
As at 31 December 2017 and 31 December 2018, FIFA was properties, which could be used to cover any additional
fully self-financed. Additionally, FIFA holds mortgage notes liquidity needs. No drawdowns had been made as at
in the amount of CHF 173 million, guaranteed by its own 31 December 2018.

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Maturity of financial liabilities

31 December 2018 31 December 2017

in TUSD 1 year or less More than a year 1 year or less More than a year

Payables – member associations

0 32,304 0 0 55,359 0
and confederations
Payables – third parties and related
84,440 0 0 74,722 0 0
parties
Derivative financial liabilities 0 6,220 386 0 12,681 322
Total 84,440 38,524 386 74,722 68,040 322

Cancellation risk
FIFA’s financial position depends on the successful staging of include natural disasters, accidents, turmoil, war, acts of
the FIFA World Cup™ because almost all contracts with its terrorism, non-participation of teams and epidemic diseases.
Commercial Affiliates are related to this event. In the event of The cancellation of the event is not covered by the insurance
cancellation, curtailment or abandonment of the FIFA World and would need to be covered by FIFA’s own financial
Cup, FIFA would run the risk of potentially being exposed to resources.
legal claims.
For the 2018 FIFA World Cup™, the maximum insurance
At its meeting on 24 October 2008, the FIFA Executive volume was USD 900 million to cover FIFA’s additional costs in
Committee decided to insure against the risk of postponement case of postponement and/or relocation of the event.
and/or relocation of the FIFA World Cups. The risks covered

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28 HEDGING ACTIVITIES AND DERIVATIVE FINANCIAL INSTRUMENTS

FIFA uses foreign currency derivatives to hedge the exposure. Several financial investments were made in foreign currency
All hedging transactions cover future revenue, which is in 2018. The foreign exchange risk has been hedged using
contractually defined and in line with the strategy decided by swaps, forwards and options. The total notional value of the
the FIFA Council. outstanding swaps and options as at 31 December 2018
amounts to USD 1,220 million (2017: 1,153 million). The
As at 31 December 2017 and 31 December 2018, there are derivative financial instruments are valued at fair market
no open hedging positions as FIFA does not apply hedge prices.
accounting.

31 December 2018 31 December 2017

in TUSD Positive fair value Negative fair value Positive fair value Negative fair value

Other derivative financial instruments

– to mature in 1 year 7,835 6,220 5,137 12,681
– to mature in subsequent years 8,694 386 5,636 322
Total 16,529 6,606 10,773 13,003
Of which
– recognised in hedging reserve 0 0 0 0

While the majority of derivative financial instruments will between FIFA and the counterparty may allow for net
mature in 2019, a number of them will only mature in settlement of the relevant financial assets and liabilities.
subsequent years, ending in 2022. In general, under such agreements the amounts owed
by each counterparty on a single day in respect of
For derivative transactions entered resulting in financial all transactions outstanding in the same currency are
assets and liabilities subject to enforceable master netting aggregated into a single net amount that is payable by
arrangements or similar arrangements, each agreement one party to the other.

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29 PERSONNEL EXPENSES

in TUSD 2018 2017

Wages and salaries 117,787 87,254

Social benefit costs 29,960 24,951
Other employee benefit costs 4,032 4,678
Other 11,400 13,007
Total personnel expenses 163,179 129,890
Of which
– Competitions & Events 26,138 18,385
– Development & Education 31,860 24,365
– Football Governance 16,740 13,301
– FIFA Governance & Administration 72,244 61,006
– Marketing & TV Broadcasting 16,197 12,833

Personnel expenses to the organisation. In addition, the year of the FIFA World
The number of full-time employees at the end of the year Cup™ traditionally requires more resources and hands, which
ending 31 December 2018 was 813 (2017: 717). increases personnel expenses. With regard to the FIFA World
Football Museum, this now has created a successful and
FIFA is continuing to develop its operational plan by pursuing firm staffing strategy that matches the resources required to
insourcing strategies to further maintain quality control and achieve its business goals.
accelerate the implementation of projects in its business
segments. The increase in personnel expenses is due to the Overall, personnel expenses increased as expected in what was
decision to return the performance of certain operations a FIFA World Cup™ year.

Retirement plans
FIFA has retirement benefit plans in place for FIFA Council members and for FIFA employees:

in TUSD 2018 2017

Retirement benefit plan for FIFA Council members 7,523 8,063

Retirement benefit plan for employees 71,473 66,270
Total post-employment benefit obligation 78,996 74,333

a) Retirement plan for FIFA Council members relatives of the FIFA Council members are not entitled to
An annual payment will be made to all long-serving FIFA receive any payments. The payments start in the financial year
Council members not falling under the FIFA Compensation, following retirement.
Expenses and Benefits Regulations for Senior Officials, which
entered into force on 31 March 2017. Such compensation In 2018, the post-employment benefit obligation of the
is limited to a maximum of the number of years that the retirement plan relating to FIFA Council members amounted to
member has served on the Council. Family members or USD 7.5 million (2017: USD 8.1 million).

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in TUSD 2018 2017

Balance as at 1 January 8,063 13,125

Service costs 0 –4,652
Interest expenses –344 –200
Payments –196 –210
Balance as at 31 December 7,523 8,063

Of which
– Due to pensioners 7,523 8,063

b) Retirement benefit plan for employees The plan’s governing body (Occupational Benefits Fund
FIFA has established a retirement benefit plan in Switzerland Commission) is composed of an equal number of employer
for all of its employees through an insurance company. and employee representatives. The plan is funded by
This Swiss plan is governed by the Swiss Federal Law on employee and employer contributions and has certain
Occupational Retirement, Survivors’ and Disability Pension defined benefit characteristics, such as the interest
Plans (BVG), which stipulates that pension plans are to guaranteed on the savings and the conversion of the savings
be managed by independent, legally autonomous units. at the end of working life into a life-long pension annuity.
The assets of the pension plan are held within a separate The employee’s contributions are determined based on the
foundation and cannot revert to the employer. Pension plans insured salary and range from 5% to 9% of the insured
are overseen by a regulator as well as by a state supervisory salary depending on the selection of the scale by the
body. beneficiary. The employer’s contributions are predetermined
at 9% of the insured salary.
FIFA participates in a Swiss “Sammelstiftung”, which is a
collective foundation administrating the pension plan of If an employee leaves FIFA or the plan before reaching
various unrelated employers. FIFA’s pension plan is fully retirement age, the law provides for the transfer of the
segregated from those of other participating employers. The vested benefits to the new plan. These vested benefits
pension plan has reinsured all demographic risks and fully comprise the employee’s and the employer’s contributions
transferred the investment activities to the insurance company. plus interest, the money originally brought in to the pension
plan by the beneficiary and an additional legally stipulated
The most senior governing body of the collective foundation amount. On reaching retirement age, the plan participant
is the Board of Trustees. The Board of Trustees manages the may decide whether to withdraw the benefits in the form
pension fund in compliance with the statutory provisions, the of an annuity or (entirely or partly) as a lump-sum payment.
articles of association of the foundation and the directives of The pension law requires adjusting pension annuities for
the supervisory authority. inflation depending on the financial condition of the plan.

The insurance premiums are reviewed on an annual basis –

accordingly, FIFA is regularly exposed to potential premium
increases. Furthermore, there is a risk that the insurance
company will cancel the insurance policy, which may lead to
higher future premiums.

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Movement in the employees’ post-employment benefit obligation over the year 2018

Net post-
Present value of Fair value of
in TUSD employment
obligation plan assets
e efi

At 1 January 2018 190,427 –124,157 66,270

Included in profit or loss:
– Current service cost 18,520 0 18,520
– Plan amendments 0 0 0
– Interest expense/(income) 1,484 –986 498
– General administration costs 0 262 262
– Exchange differences –1,320 872 –448
Total 18,684 148 18,832
Remeasurements included in comprehensive income:
– Return on plan assets, excluding interest income 0 –135 –135
– (Gain)/loss from change in demographic assumptions 0 0 0
– (Gain)/loss from change in financial assumptions –6,565 0 –6,565
– Experience (gains)/losses 5,555 0 5,555
Total –1,010 –135 –1,145
Contributions and benefits paid:
– Plan participants 5,761 –5,761 0
– Employer 0 –12,484 –12,484
– Benefit payments –3,993 3,993 0
Total 1,768 –14,252 –12,484
At 31 December 2018 209,869 –138,396 71,473

Of which
– Due to active members 200,751
– Due to pensioners 9,118

Post-employment benefit obligation The expected contributions to be paid by the employer into
The post-employment benefit expenses included in profit or the plan for 2019 are USD 13.4 million.
loss are part of the total expenses from football activities and
total expenses from administrative activities.

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Movement in the employees’ post-employment benefit obligation over the year 2017

Net post-
Present value of Fair value of
in TUSD employment
obligation plan assets
e efi

At 1 January 2017 216,033 –141,555 74,478

Included in profit or loss:
– Current service cost 19,303 0 19,303
– Plan amendments –14,922 12,959 –1,963
– Interest expense/(income) 1,093 –708 385
– General administration costs 0 199 199
– Exchange differences 8,997 –5,889 3,108
Total 14,471 6,561 21,032
Remeasurements:
– Return on plan assets, excluding interest income 0 1,269 1,269
– (Gain)/loss from change in demographic assumptions 0 0 0
– (Gain)/loss from change in financial assumptions –10,238 0 –10,238
– Experience (gains)/losses –8,918 0 –8,918
Total –19,156 1,269 –17,887
Contributions:
– Plan participants 4,826 –4,826 0
– Employer 0 –11,353 –11,353
– Benefit payments –25,747 25,747 0
Total –20,921 9,568 –11,353
At 31 December 2017 190,427 –124,157 66,270

Of which
– Due to active members 184,484
– Due to pensioners 5,943

In 2017, FIFA Museum AG and FIFA Museum Gastronomie by the pension plan, which resulted in a past service credit of
AG significantly reduced the number of employees covered USD 1.3 million.

Principal actuarial assumptions

31 Dec 2018 31 Dec 2017

Discount rate 0.90% 0.75%

Future salary increases 2.00% 2.00%
Future pension increases 0.50% 0.50%
Inflation rate 0.75% 0.50%

Assumptions regarding future mortality as presented below are generational mortality rates allowing for future projections of
set based on Swiss BVG/LLP 2015 mortality tables, which include increasing longevity.

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31 Dec 2018 31 Dec 2017

Longevity at age 63/62 for current pensioners:

– male 24.39 24.27
– female 27.53 27.42
Longevity at age 63/62 for employees retiring 20 years after the end of the reporting period:
– male 26.25 26.18
– female 29.36 29.28

Sensitivity of the employees’ post-employment benefit obligation to changes in the weighted principal assumption
at 31 December 2018

c e e e efi
Change in Increase in Decrease in
assumption assumption assumption

Discount rate 0.25% Decrease 4.85% Increase 5.26%

Future salary increases 0.25% Increase 0.47% Decrease 0.45%
Future pension increases 0.25% Increase 2.47% Decrease 2.34%

Sensitivity of the employees’ post-employment benefit obligation to changes in the weighted principal assumption
at 31 December 2017

c e e e efi
Change in Increase in Decrease in
assumption assumption assumption

Discount rate 0.25% Decrease 5.00% Increase 5.43%

Future salary increases 0.25% Increase 0.45% Decrease 0.44%
Future pension increases 0.25% Increase 2.55% Decrease 2.41%

The above sensitivity analyses are based on a change in The plan assets are fully covered by the repurchase value of
assumption while holding all other assumptions constant. the insurance company.
In practice, this is unlikely to occur, and changes in some
of the assumptions may be correlated. When calculating Accounting estimates and judgments
the sensitivity of the post-employment benefit obligation to The rates and parameters applied above are based on past
significant actuarial assumptions, the same method (present experience. Future developments in capital and labour markets
value of the defined post-employment obligation calculated could make adjustments of such rates necessary, which could
with the projected unit credit method at the end of the significantly affect the calculation of the net post-employment
reporting period) has been applied as when calculating the benefit obligation.
net post-employment benefit obligation recognised within the
balance sheet.

The weighted average duration of the post-employment

benefit obligation is 20.7 years (2017: 21.3 years).

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30 CONTINGENT LIABILITIES

FIFA continues to participate in a number of investigations of punitive character or any other adjustments must be
conducted by the Swiss Office of the Attorney General made at this time to the consolidated financial statements.
(“OAG”) and the US Department of Justice (“DoJ”). The
investigations led by the Swiss authorities will continue for Moreover, FIFA is currently involved in a number of legal
some time and an expansion in scope cannot be excluded. disputes arising from its operating activities, where it
In the United States, those defendants that have already considers the possibility of any outflow in settlement to be
pleaded guilty or have been convicted at trial are due to be remote. Therefore, FIFA has not recognised a provision in
sentenced. As a recognised victim of the defendants’ crimes, relation to these legal matters.
FIFA has requested restitution from several defendants, but
final restitution awards have not yet been ordered. It is our The safeguarding of FIFA’s interest in the ongoing legal
understanding that FIFA is not considered a target of either matters (including restitution proceedings) and the
the OAG’s or the DoJ’s ongoing investigations. Taking into protection against currently known legal risks will, however,
account that FIFA has fully cooperated and will continue to continue to generate some costs, which FIFA intends to limit
fully cooperate with the respective authorities within the to the strict minimum necessary.
boundaries of applicable law, the FIFA management is of the
view that no provisions for fines, penalties or other payments

31 CAPITAL COMMITMENTS

As at 31 December 2018, FIFA had no capital commitments

(2017: FIFA had no capital commitments).

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32 OPERATING LEASES

in TUSD 31 Dec 2018 31 Dec 2017

Maturity 1 year 10,801 9,515

Maturity 1-5 years 40,096 36,711
Maturity > 5 years 198,410 207,136
Total 249,307 253,362

FIFA has entered into leasing contracts for buildings, vehicles FIFA has contracted a lease term that has 27 years remaining,
and office equipment. Rental contracts with a notice with further terms and options to continue the lease. The
period longer than 12 months are taken into account when rental fee for this leasing is exposed to the Swiss Consumer
calculating future obligations. In 2018, a total amount of Price Index on a yearly basis, leaving it to be influenced by the
USD 7.1 million (2017: USD 6.8 million) was recognised as an inflation rate of the country.
expense in the statement of profit or loss for operating leases.

33 RELATED-PARTY TRANSACTIONS

The following persons are regarded as related parties: to USD 0.7 million. The 2017 figure was USD -3.4 million,
members of the Council, the President, the Secretary General which benefited from a one-time impact of USD 4.9 million
and the key management personnel. in the retirement plan of FIFA Council members due to new
regulations – the FIFA Compensation, Expenses and Benefits
In 2018, short-term employee benefits for related parties Regulations for Senior Officials – entering into force in
amounted to USD 28.7 million (2017: USD 25.2 million), of that year. FIFA has outstanding payables to related parties
which USD 0.5 million consisted of termination benefits (2017: amounting to USD 0.2 million (2017: USD 1.5 million).
USD 2.4 million). In addition to these short-term employee Further disclosures and information are available in the FIFA
benefits, FIFA contributes to defined post-employment Governance Report 2018.
benefit plans. The pension expenses in 2018 amounted

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34 CONSOLIDATED SUBSIDIARIES

Location of Ownership interest Ownership interest

Activity
incorporation 2018 2017
Zurich,
FIFA Museum AG Museum 100% 100%
Switzerland
Zurich, Gastronomy
FIFA Museum Gastronomie AG 100% 100%
Switzerland industry
Zurich,
FIFA Transfer Matching System GmbH Service company 0% 100%
Switzerland
Zurich,
FIFA Travel GmbH (in liquidation) Travel agency 100% 100%
Switzerland
Zurich,
Early Warning System GmbH (in liquidation) Service company 100% 100%
Switzerland
Zurich,
Hotel Ascot GmbH Hotel industry 100% 100%
Switzerland
Zurich,
FIFA Ticketing AG Ticket sales 100% 100%
Switzerland
Zurich,
FIFA Development Zurich AG Service company 100% 100%
Switzerland
Zurich,
FIFA Foundation Foundation 100% n/a
Switzerland
Doha,
FIFA World Cup Qatar 2022 LLC Service company 51% n/a
Qatar
Moscow,
2018 FIFA World Cup Ticketing Limited Liability Company Ticket Sales 100% 100%
Russia
Moscow,
2018 FIFA World Cup Limited Liability Company Service company 100% 100%
Russia
Rio de Janeiro,
FIFA World Cup Brazil Assessoria Ltda Service company 100% 100%
Brazil
Rio de Janeiro,
2014 FIFA World Cup Venda de Ingressos Ltda Ticket sales 100% 100%
Brazil
Nasrec,
2010 FIFA World Cup Ticketing (Pty) Ltd (in liquidation) Ticket sales 100% 100%
South Africa
Nasrec,
FIFA World Cup South Africa (Pty) Ltd (in liquidation) Service company 100% 100%
South Africa

Subsidiaries with a location of incorporation not in Switzerland

are specifically established to operate the final competition of
the FIFA World Cup™ and other events. Noteworthy changes
are the newly established FIFA Foundation and FIFA World
Cup Qatar 2022 LLC, the finalised liquidation of FIFA Transfer
Matching System GmbH and ongoing voluntary liquidation
procedures of the following entities:
• FIFA Travel GmbH
• Early Warning System GmbH
• 2010 FIFA World Cup Ticketing (Pty) Ltd
• FIFA World Cup South Africa (Pty) Ltd

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35 POST-BALANCE-SHEET EVENTS

The FIFA Council authorised the issue of these consolidated The consolidated financial statements for 2018 will be
financial statements on 15 March 2019. submitted to the FIFA Congress for approval on 5 June 2019.
Up to this date, no other events have occurred since
31 December 2018 that would require any adjustment
to the carrying amount of FIFA’s assets and liabilities as at
31 December 2018 and/or disclosure.

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REPORT TO THE FIFA CONGRESS

Report of the statutory auditor to the Congress of

Fédération Internationale de Football Association
(FIFA) on the consolidated financial statements 2018
Report on the audit of the consolidated financial statements

Opinion Basis for opinion

We have audited the consolidated financial statements of We conducted our audit in accordance with Swiss law,
Fédération Internationale de Football Association (FIFA) and its International Standards on Auditing (ISAs) and Swiss Auditing
subsidiaries (the Group) for the year ended 31 December 2018, Standards. Our responsibilities under those provisions
which comprise the consolidated statement of comprehensive and standards are further described in the “Auditor’s
income, consolidated balance sheet, consolidated cash flow responsibilities for the audit of the consolidated financial
statement, consolidated statement of changes in reserves and statements” section of our report.
notes to the consolidated financial statements including a
summary of significant accounting policies. We are independent of the Group in accordance with
the provisions of Swiss law and the requirements of the
In our opinion, the consolidated financial statements Swiss audit profession, as well as the IESBA Code of Ethics
(pages 70 to 126) give a true and fair view of the consolidated for Professional Accountants, and we have fulfilled our
financial position of the Group as at 31 December 2018 and other ethical responsibilities in accordance with these
its consolidated financial performance and its consolidated requirements. We believe that the audit evidence we have
cash flows for the year then ended in accordance with the obtained is sufficient and appropriate to provide a basis for
International Financial Reporting Standards (IFRS) and comply our opinion.
with Swiss law.

Our audit approach

Overview

Overall Group materiality: USD 28 million

We performed full scope audit work at the parent association (FIFA) in Switzerland.
Materiality
Our full scope audit addressed over 99.8% of the revenue, over 98% of the expenses and
over 96% of the assets of the Group.
Audit scope In addition, we performed specified procedures on assets held in two reporting units in
Switzerland, addressing a further 3.6% of the Group’s assets.

Key audit The key audit matters in the audit were:

matters • Addressing fraud risk
• Appropriateness and application of the revenue recognition policy
• Financial implications of legal cases and/or potential claims

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Materiality FIFA is an international nongovernmental and non-profit

The scope of our audit was influenced by our application of association incorporated under Swiss law and based in Zurich.
materiality. Our audit opinion aims to provide reasonable Its new vision, as expressed by ‘FIFA 2.0’, is to promote the
assurance that the consolidated financial statements are free game of football, protect its integrity and bring the game to
from material misstatement. Misstatements may arise due to all. FIFA’s activities include the organisation and realisation of
fraud or error. They are considered material if, individually or global football tournaments, including the FIFA World Cup™,
in aggregate, they could reasonably be expected to influence and the sale of the television broadcasting rights, marketing
the economic decisions of users taken on the basis of the rights and licensing rights for these events. Most of the
consolidated financial statements. Group’s operations are conducted by the parent association
(FIFA), although there are 15 other reporting units that
Based on our professional judgement, we determined certain undertake specific activities, including operating a museum
quantitative thresholds for materiality, including the overall and a hotel.
Group materiality for the consolidated financial statements as
a whole as set out in the table below. These, together with FIFA has 211 Member Associations (MAs), which together
qualitative considerations, helped us to determine the scope form the FIFA Congress, the supreme legislative body of FIFA.
of our audit and the nature, timing and extent of our audit The MAs receive financial assistance from FIFA earmarked for
procedures and to evaluate the effect of misstatements, both specific football-related projects. The MAs are not considered
individually and in aggregate, on the consolidated financial to be controlled by FIFA as defined by the relevant financial
statements as a whole. reporting standard and, therefore, expenditure incurred by the
MAs is excluded from these consolidated financial statements.
Overall Group USD 28 million
materiality In addition to our full scope audit of the parent association,
we performed specified procedures on assets held by FIFA
How we 1% of total expenses Museum AG and assets held by Hotel Ascot GmbH in light of
determined it
the impairment charges that were recognised in 2016.
Rationale for We chose total expenses as the
the materiality benchmark for our materiality because Key audit matters
benchmark it is a commonly used benchmark for Key audit matters are those matters that, in our professional
applied not-for-profit associations and because judgement, were of most significance in our audit of the
FIFA has uneven revenue flows leading to consolidated financial statements of the current period
volatile annual income and results. and include the most significant assessed risks of material
misstatement (whether or not due to fraud) identified by the
Audit scope auditors, including those which had the greatest effect on: the
As part of designing the scope of our audit we assessed the overall audit strategy; the allocation of resources in the audit;
risks of material misstatements in the consolidated financial and directing the efforts of the engagement team. These
statements. We tailored the scope of our audit in order to matters were addressed in the context of our audit of the
perform sufficient work to enable us to provide an opinion on consolidated financial statements as a whole, and in forming
the consolidated financial statements as a whole, taking into our opinion thereon, and we do not provide a separate
account the structure of the Group, the accounting processes opinion on these matters.
and controls, and the industry in which the Group operates.

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Addressing fraud risk

Key audit matter How our audit addressed the key audit matter

We have to take into account inappropriate activity Our audit mindset in our interactions with FIFA’s
in areas of the football industry that are outside FIFA’s management has been one of respect whilst applying
control. These matters are widely known and subject to appropriate professional scepticism.
investigations.
In order to assess the ‘tone at the top’ of the organisation
On the basis of our understanding of the organisation and understand management’s assessment of fraud risk,
and its operations, we deemed fraud risk to be highest the views of those charged with governance, and the
with regard to transactions and commercial arrangements process of enhancing controls that has been ongoing
with related parties and other parties with whom there since 2015, we interviewed the President, selected
may be conflicts of interest. We also recognised the need members of senior management, and the Audit and
to be alert to any evidence of management overriding Compliance Committee Chairman. Furthermore, we
controls, as this would increase concern about the met the Chairwoman of the investigatory chamber of
transactions in question. the independent Ethics Committee and the Chairman
of the adjudicatory chamber of the independent Ethics
Committee. We also gained an understanding of any
instances of fraud or inappropriate behaviour that
management became aware of as well as how these were
dealt with.

Through discussions with management, those charged

with governance and other research, we confirmed
our understanding of the organisation, its key business
partners and related parties. We also understood the roles
and responsibilities of the internal audit function and the
Compliance function in relation to fraud. We performed
forensic background checks on new key individuals in the
organisation.

On the basis of the above, we focused our work on

transactions and business arrangements where there
might be potential conflicts of interest and/or risk of
a misuse of funds. We performed tests designed with
the assistance of forensic experts. These tests helped us
identify and focus our work on high risk and atypical
transactions. They also helped us obtain audit evidence
on the appropriateness of the underlying transactions in
more critical areas.

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Our work included:

• On a sample basis, we verified that expenses recorded

in the 2018 financial year were supported by the
existence of new or preexisting authorised and valid
contracts, which had been appropriately approved in
accordance with FIFA’s current procurement guidance.

• We interviewed the professional services firm engaged

by FIFA to oversee the activities and procurement
processes of the 2018 FIFA World Cup Russia™ Local
Organising Committee to get an understanding of the
controls put in place and evaluate the effectiveness of
their design as an antifraud mechanism.

• Using IT audit techniques, we examined the Group’s

transactions to identify those involving potentially
related parties. We ensured for these identified
transactions that the underlying business rationales
were appropriate, the transactions complied with FIFA
regulations and they were properly approved.

• In addition, our IT specialists used data analysis to

identify unusual cash transactions in the 2018 financial
year. We checked the supporting documentation and
approval of these transactions.

On the basis of the work performed and the materiality

level that we set, we did not identify any instances of
misstatements due to fraud in the consolidated financial
statements of FIFA. We should bring to the reader’s
attention, however, the auditor’s responsibilities in relation
to fraud as explained later in this report.

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Appropriateness and application of the revenue recognition policy

Key audit matter How our audit addressed the key audit matter

In the 2018 financial year, total revenue amounted to FIFA management reviewed all new significant revenue
USD 4,641 million, primarily comprising event-related contracts in 2018 relating to the sale of television
revenue. Event-related revenue was attributable to the sale broadcasting rights, marketing rights and licensing rights,
of television broadcasting rights (USD 2,544 million), and presented for our audit its proposed revenue recognition
marketing rights (USD 1,143.3 million), licensing rights approach for each contract.
(USD 184.6 million) and hospitality/accommodation and
ticketing revenue (USD 689.1 million). The increase in For the 2018 financial year, we reviewed whether the
revenue compared to the prior year is mainly driven by the assumptions described to pages 76 and 77 defined in prior
event-related revenue earned from the 2018 FIFA World year were still valid. The resulting policy and its application
Cup™. were deemed compliant with the requirements.

FIFA has a four-year revenue cycle, which is dominated by For revenue contracts signed before 2018 when the revenue
the FIFA World Cup™ which occurred in 2018. Therefore is to be recognised over time, we performed the following:
the current cycle completed as at 31 December 2018. FIFA
usually signs major contracts for television broadcasting • We examined audit evidence to ensure that the contract
rights, marketing rights, licensing rights and hospitality rights terms were unchanged from the prior year.
for at least a full four-year cycle.
• We paid particular attention to whether the contractual
We considered revenue recognition and the application arrangements continued to satisfy the conditions required
of IFRS 15 to be a key audit matter because of the risk of for revenue to be recognised over time.
material misstatements in the financial statements given the
complexity of the contracts concerned and the judgements • We re-performed the allocation of the contract price.
and estimates required of management. The timing of
revenue recognition for each revenue type and contract may • We checked the mathematical accuracy of the revenue
differ considerably. For more detailed information on the recognition calculation performed by FIFA.
accounting policy regarding revenue recognition, including
the assumptions, please refer to pages 76 to 77 in the notes • We examined audit evidence to ensure the accuracy of the
to the consolidated financial statements. accounting entries for the 2018 financial year.

For new significant contracts signed in 2018, we performed

the following:

• We independently identified the performance obligations

in the contracts and compared them with management’s
proposals for the contracts signed in the 2018 financial
year.

• We determined the full contract price based on the

underlying contracts.

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• We re-performed the allocation of the full contract price

to the performance obligations in the contract based on
the underlying inputs, such as forecasted broadcast hours,
developed by FIFA.

• For the key inputs used to allocate marketing and

sponsorship revenues to different performance
obligations, we re-performed the allocation using
available information or we compared management’s
judgements with third party information or valuations
performed for FIFA.

• For the television broadcasting rights and marketing rights,

we compared the underlying inputs used by FIFA with
third party reports and forecasted broadcast hours.

• We checked the mathematical accuracy of the revenue

recognition calculation performed by FIFA.

• We verified the accounting entries for the 2018 financial

year.

FIFA engaged a professional services firm to test the revenue

recognised from 2018 FIFA World Cup™ ticket sales; the
ticket sales process is itself managed by a third party service
organisation. We were involved in the planning as well as
the selection of the samples for the professional service
firm’s testing and we re-performed sample tests as part of
our review of their work. Furthermore, FIFA received from
the professional services firm an Assurance Report on the
effectiveness of the Controls. We obtained access to this
report and took note of its contents.

On the basis of the evidence we obtained, we concluded

that the assumptions made and the judgements applied in
relation to revenue recognition were reasonable and the
related disclosures were appropriate.

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Financial implications of legal cases and/or potential claims

Key audit matter How our audit addressed the key audit matter

As disclosed in note 25 to the consolidated financial We read FIFA’s internal overview of pending litigation
statements, provisions are recorded to cover legal prepared by its legal department. On the basis of this
exposures to the extent that the exposures are probable document and the details of legal expenses in the
and can be estimated. accounting records, we identified the main external legal
counsel used by FIFA and performed the following:
We consider the accounting for the financial implications
of these ongoing legal cases to be a key audit matter due • We sent letters of enquiry to 21 lawyers concerning
to the related uncertainty and magnitude. various legal cases, which were selected on the basis
of quantitative and qualitative criteria. The responses
From a financial reporting perspective, a critical provided an independent summary of the facts and
judgement concerns whether and when a provision is merits of each case. Where possible, they also gave
required for fines, penalties or other payments of punitive an independent professional perspective of the likely
character. This judgement requires an assessment of the outcome.
probability a payment will have to be made and a reliable
estimate of the amount of that payment. In addition, the • We assessed those legal cases handled by FIFA’s own
adequacy and accuracy of the related disclosures is critical legal department and discussed the most important
for the reader of the financial statements. legal cases with management and various legal
counsellors.
Further, there is a risk that these legal cases might lead
to additional liabilities for FIFA, which are not reflected in • On the basis of our discussions and communications
the financial statements. with FIFA’s external legal counsel and internal legal
department, we identified existing and potential
claims in connection with the preparation of
the 2018 consolidated financial statements. The
lawyers’ responses we obtained helped us confirm
management’s judgements regarding the recognition
and measurement of a provision for fines, penalties
or other payments of punitive character in the 2018
consolidated financial statements.

On the basis of the procedures performed, we considered

management’s judgements on the level of provisioning
to be appropriate. We also evaluated the appropriateness
of the disclosures in note 30 relating to the potential
financial exposure arising from ongoing litigation and
investigations.

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Other information in the annual report Responsibilities of the FIFA Council for the consolidated
The FIFA Council is responsible for the other information financial statements
in the annual report, comprising the financial report, The FIFA Council is responsible for the preparation of the
the governance report and the activity report. The other consolidated financial statements that give a true and fair
information comprises all information included in the annual view in accordance with IFRS and the provisions of Swiss
report, but does not include the consolidated financial law, and for such internal control as the FIFA Council
statements, the standalone financial statements of the determines is necessary to enable the preparation of
Fédération Internationale de Football Association (FIFA) and consolidated financial statements that are free from material
our auditor’s reports thereon. misstatement, whether due to fraud or error.

Our opinion on the consolidated financial statements does In preparing the consolidated financial statements, the
not cover the other information in the annual report and we FIFA Council is responsible for assessing the Group’s ability
do not express any form of assurance conclusion thereon. to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going
In connection with our audit of the consolidated financial concern basis of accounting unless the FIFA Council either
statements, our responsibility is to read the other information intends to liquidate the Group or to cease operations, or has
in the annual report and, in doing so, consider whether no realistic alternative but to do so.
the other information is materially inconsistent with the
consolidated financial statements or our knowledge obtained
in the audit, or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that
there is a material misstatement of this other information, we
are required to report that fact. We have nothing to report in
this regard.

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Auditor’s responsibilities for the audit of the uncertainty exists, we are required to draw attention
consolidated financial statements in our auditor’s report to the related disclosures in the
Our objectives are to obtain reasonable assurance about consolidated financial statements or, if such disclosures
whether the consolidated financial statements as a whole are inadequate, to modify our opinion. Our conclusions
are free from material misstatement, whether due to fraud are based on the audit evidence obtained up to the
or error, and to issue an auditor’s report that includes our date of our auditor’s report. However, future events or
opinion. Reasonable assurance is a high level of assurance, conditions may cause the Group to cease to continue as a
but is not a guarantee that an audit conducted in accordance going concern.
with Swiss law, ISAs and Swiss Auditing Standards will always
detect a material misstatement when it exists. Misstatements • Evaluate the overall presentation, structure and content
can arise from fraud or error and are considered material if, of the consolidated financial statements, including the
individually or in the aggregate, they could reasonably be disclosures, and whether the consolidated financial
expected to influence the economic decisions of users taken statements represent the underlying transactions and
on the basis of these consolidated financial statements. events in a manner that achieves fair presentation.

As part of an audit in accordance with Swiss law, ISAs and • Obtain sufficient appropriate audit evidence regarding
Swiss Auditing Standards, we exercise professional judgment the financial information of the entities or business
and maintain professional scepticism throughout the audit. activities within the Group to express an opinion on the
We also: consolidated financial statements. We are responsible for
the direction, supervision and performance of the Group
• Identify and assess the risks of material misstatement of the audit. We remain solely responsible for our audit opinion.
consolidated financial statements, whether due to fraud
or error, design and perform audit procedures responsive We communicate with the FIFA Council or its relevant
to those risks, and obtain audit evidence that is sufficient committee regarding, among other matters, the planned
and appropriate to provide a basis for our opinion. The scope and timing of the audit and significant audit findings,
risk of not detecting a material misstatement resulting including any significant deficiencies in internal control that
from fraud is higher than for one resulting from error, as we identify during our audit.
fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control. We also provide the FIFA Council or its relevant committee
with a statement that we have complied with relevant ethical
• Obtain an understanding of internal control relevant to requirements regarding independence, and to communicate
the audit in order to design audit procedures that are with them all relationships and other matters that may
appropriate in the circumstances, but not for the purpose reasonably be thought to bear on our independence, and
of expressing an opinion on the effectiveness of the where applicable, related safeguards.
Group’s internal control.
From the matters communicated with the FIFA Council or its
• Evaluate the appropriateness of accounting policies used relevant committee, we determine those matters that were
and the reasonableness of accounting estimates and of most significance in the audit of the consolidated financial
related disclosures made. statements of the current period and are therefore the key
audit matters. We describe these matters in our auditor’s
• Conclude on the appropriateness of the FIFA Council’s report unless law or regulation precludes public disclosure
use of the going concern basis of accounting and, based about the matter or when, in extremely rare circumstances,
on the audit evidence obtained, whether a material we determine that a matter should not be communicated
uncertainty exists related to events or conditions that may in our report because the adverse consequences of doing
cast significant doubt on the Group’s ability to continue so would reasonably be expected to outweigh the public
as a going concern. If we conclude that a material interest benefits of such communication.

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Report on other legal and regulatory requirements

In accordance with article 728a paragraph 1 item 3 CO and We recommend that the consolidated financial statements
Swiss Auditing Standard 890, we confirm that an internal submitted to you be approved.
control system exists which has been designed for the
preparation of consolidated financial statements according to
the instructions of the FIFA Council.

PricewaterhouseCoopers AG

Patrick Balkanyi Yvonne Burger

Audit expert Audit expert

Auditor in charge

Zurich, 15 March 2019

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REPORTS TO THE FIFA CONGRESS

Audit and Compliance Committee

report on the consolidated financial
statements for 2018
In our role as the FIFA Audit and Compliance Committee, We believe that our assessment provides a reasonable basis
we have assessed the consolidated financial statements for our opinion. Furthermore, we confirm that we have
(consolidated statement of comprehensive income, consolidated had unrestricted and complete access to all the relevant
balance sheet, consolidated cash flow statement, consolidated documents and information necessary for our assessment.
statement of changes in reserves and notes to the consolidated
financial statements) of the Fédération Internationale de In addition, we advised and assisted the FIFA Council in
Football Association for the period from 1 January 2018 to monitoring FIFA’s financial and compliance matters and
31 December 2018. We confirm that we fulfil the independence monitored compliance as set out in the FIFA Governance
criteria as defined in article 5 of the FIFA Governance Regulations.
Regulations. According to article 51 of the FIFA Statutes, it is our
responsibility to ensure the completeness and reliability of the On this basis, we recommend that the FIFA Congress
financial accounting and to review the consolidated financial approve the consolidated financial statements for 2018.
statements and the external auditor’s report. We have assessed
the financial statements for 2018 through: For the Audit and Compliance Committee

• Discussion of the financial statements during the meetings

of the Audit and Compliance Committee held on
11 January 2019 and 5 March 2019 in the presence of the
FIFA Secretary General, the FIFA Chief Finance Officer and
the external auditors
• Examination of the detailed report to the Audit and
Compliance Committee and to the FIFA Council for the Tomaž Vesel
year ended 31 December 2018 Chairman
• Examination of the report of the statutory auditor to the
Congress of Fédération Internationale de Football Association Zurich, 12 March 2019
(FIFA) on the consolidated financial statements for 2018.

FIFA FINANCIAL REPORT 2018 | 137

The home fans celebrate after Iury Gazinsky
opens the scoring during the 2018 FIFA
World Cup Russia’s opening game between
the hosts and Saudi Arabia.

Consolidated statement of
comprehensive income 2015-2018 140
Notes 2015-2018 141

ANNEXE 7
7 | ANNEXE

CONSOLIDATED STATEMENT

Consolidated statement of
comprehensive income 2015-2018
in TUSD Note 2015 2016 2017 2018 Total

REVENUE
Revenue from television broadcasting rights 1 258,496 95,612 228,645 2,543,968 3,126,721
Revenue from marketing rights 2 157,244 114,574 245,277 1,143,312 1,660,407
Revenue from licensing rights 3 50,499 204,485 160,211 184,573 599,768
Revenue from hospitality/
4 0 0 22,368 689,143 711,511
accommodation rights and ticket sales
Other revenue 5 78,135 87,025 77,701 79,958 322,819
Total revenue 544,374 501,696 734,202 4,640,954 6,421,226

EXPENSES
Competitions & Events 6 –215,417 –157,067 –219,373 –1,974,317 –2,566,174
Development & Education 7 –186,512 –427,832 –477,507 –578,469 –1,670,320
Football Governance 8 –35,666 –31,753 –24,565 –31,479 –123,463
Total expenses from football activities –437,595 –616,652 –721,445 –2,584,265 –4,359,957

FIFA Governance & Administration 9 –194,282 –248,185 –164,622 –190,586 –797,675

Marketing & TV Broadcasting 10 –29,489 –27,905 –37,081 –116,303 –210,778
Total expenses from administrative activities –223,771 –276,090 –201,703 –306,889 –1,008,453

Total expenses –661,366 –892,742 –923,148 –2,891,154 –5,368,410

Result before taxes and financial result –116,992 –391,046 –188,946 1,749,800 1,052,816
Taxes and duties –3,851 –2,439 –979 –28,965 –36,234
Net financial result 68,087 24,728 –1,597 93,162 184,380
Net result for the year –52,756 –368,757 –191,522 1,813,997 1,200,962

140 | FIFA FINANCIAL REPORT 2018

 NOTES 2015-2018 ANNEXE | 7

NOTES 2015-2018

Notes to the revenue accounts 2015-2018

1 REVENUE FROM TELEVISION BROADCASTING RIGHTS

in TUSD 2015 2016 2017 2018 Total

Europe 16,229 0 6,395 897,748 920,372

Asia and North Africa 79,508 35,642 71,652 787,566 974,368
South and Central America 62,410 24,768 50,499 314,513 452,190
North America and the Caribbean 72,294 28,601 58,377 362,937 522,209
Rest of the World 3,592 1,388 13,863 85,075 103,918
Total revenue from broadcasting rights by region 234,033 90,399 200,786 2,447,839 2,973,057
Other broadcasting revenue 8,855 1,010 13,799 92,352 116,016
Revenue from other FIFA events 15,608 4,203 14,060 3,777 37,648
e e ef ee c 258,496 95,612 228,645 2,543,968 3,126,721

2 REVENUE FROM MARKETING RIGHTS

in TUSD 2015 2016 2017 2018 Total

FIFA Partners 136,863 100,990 185,411 695,054 1,118,318

FIFA World Cup Sponsors 10,242 10,255 41,030 301,620 363,147
FIFA Regional Supporters 0 2,425 7,382 143,488 153,295
FIFA National Supporters 10,138 904 11,454 3,150 25,647
Total revenue from marketing rights 157,243 114,574 245,277 1,143,312 1,660,407

3 REVENUE FROM LICENSING RIGHTS

in TUSD 2015 2016 2017 2018 Total

Brand licensing rights 45,349 199,551 155,472 174,592 574,964

Other licensing rights 5,150 4,934 4,739 9,981 24,804
Total revenue from licensing rights 50,499 204,485 160,211 184,573 599,768

FIFA FINANCIAL REPORT 2018 | 141

7 | ANNEXE

4 REVENUE FROM HOSPITALITY/ACCOMMODATION RIGHTS AND TICKET SALES

in TUSD 2015 2016 2017 2018 Total

Revenue from hospitality/

0 0 0 148,297 148,297
accommodation rights – FIFA World Cup™
Revenue from hospitality/
0 0 353 292 645
accommodation rights – other FIFA events
Revenue from ticket sales – FIFA World Cup 0 0 0 540,554 540,554
Revenue from ticket sales – other FIFA events 0 0 22,015 0 22,015
Total revenue from hospitality/
0 0 22,368 689,143 711,511
accommodation rights and ticket sales

5 OTHER REVENUE

in TUSD 2015 2016 2017 2018 Total

FIFA Club World Cup 20,450 29,011 37,079 36,830 123,370

FIFA Quality Programme 13,072 9,714 9,630 11,095 43,510
Penalties/Appeals 4,138 5,599 10,356 6,651 26,744
Olympic Football Tournaments Rio 2016 19 22,087 2,642 0 24,748
Income from the sale of film and video rights 3,536 3,563 4,585 10,517 22,201
Rent from real estate 2,363 4,123 4,485 4,174 15,145
FIFA World Football Museum 28 4,657 3,725 3,997 12,407
Revenues from prior cycles and other 34,530 8,271 5,199 6,694 54,694
Total other revenue 78,135 87,025 77,701 79,958 322,819

142 | FIFA FINANCIAL REPORT 2018

 NOTES 2015-2018 ANNEXE | 7

NOTES 2015-2018

Notes to the expense accounts 2015-2018

6 COMPETITIONS & EVENTS

in TUSD 2015 2016 2017 2018 Total

FIFA World Cup™ 0 0 0 1,824,118 1,824,118

FIFA U-20 Women’s Wold Cup France 2018 0 0 0 13,101 13,101
FIFA U-17 Women’s World Cup Uruguay 2018 0 0 0 10,327 10,327
Youth Olympic Futsal Tournaments Buenos Aires 2018 0 0 0 1,409 1,409
FIFA Confederations Cup Russia 2017 0 0 142,420 746 143,166
FIFA U-20 World Cup Korea Republic 2017 0 0 15,929 2,474 18,403
FIFA U-17 World Cup India 2017 0 0 20,517 115 20,632
FIFA Beach Soccer World Cup Bahamas 2017 0 0 8,173 1,760 9,933
FIFA U-20 Women’s World Cup Papua New Guinea 2016 0 18,694 149 0 18,843
FIFA U-17 Women’s World Cup Jordan 2016 0 18,444 482 0 18,926
FIFA Futsal World Cup Colombia 2016 0 13,365 1 0 13,366
Olympic Football Tournaments Rio 2016 0 10,044 13 0 10,057
FIFA Women’s World Cup Canada 2015™ 81,365 632 10 0 82,007
FIFA U-20 Women’s World Cup New Zealand 2015 25,117 543 0 0 25,660
FIFA U-17 World Cup Chile 2015 22,211 2,000 399 0 24,610
FIFA Beach Soccer World Cup Portugal 2015 7,303 0 0 0 7,303
FIFA Club World Cup 20,869 20,714 20,101 22,382 84,066
FIFA Ballon d’Or/The Best FIFA Football Awards™ 5,261 4,526 4,717 7,071 21,575
FIFA Interactive World Cup/FIFA eWorld Cup 2018™ 2,330 2,839 3,575 4,956 13,700
Blue Stars/FIFA Youth Cup 1,124 1,065 959 917 4,065
FIFA events from previous cycles 1,307 4,315 –64,312 1,259 –57,431
Value in kind and other 4,916 8,535 18,148 43,476 75,075
Total other FIFA events 171,803 105,716 171,281 109,993 558,793
FIFA Club Protection Programme 29,293 36,504 28,322 12,377 106,496
Personnel expenses 12,678 13,385 18,385 26,138 70,586
Depreciation of property and equipment 1,643 1,462 1,385 1,691 6,181
Total Competitions & Events 215,417 157,067 219,373 1,974,317 2,566,174

FIFA FINANCIAL REPORT 2018 | 143

7 | ANNEXE

7 DEVELOPMENT & EDUCATION

in TUSD 2015 2016 2017 2018 Total

FIFA Forward project costs member associations 0 158,250 158,250 158,250 474,750
FIFA Forward operational costs member associations 0 105,500 105,500 105,500 316,500
FIFA Forward confederations 0 60,000 60,000 60,000 180,000
FIFA Forward travel and equipment 0 0 54,250 27,125 81,375
FIFA Forward zonal/regional associations 0 0 13,000 13,000 26,000
Football for Schools Programme 0 0 0 100,550 100,550
Technical development programmes 9,562 14,628 9,159 7,769 41,118
Refereeing Assistance Programme (RAP) 8,839 8,212 7,266 9,880 34,197
Other projects 1,348 5,866 7,658 13,254 28,126
Women’s football promotion 6,833 5,164 5,639 6,256 23,892
Education 4,622 4,796 4,850 4,887 19,155
Sustainability, human rights and anti-discrimination 2,982 5,150 5,018 3,304 16,454
Medicine and science 4,607 3,494 1,295 1,696 11,092
Audit and financial education 1,671 1,836 1,779 3,216 8,502
Solidarity projects 2,577 1,967 1,026 0 5,570
FIFA Foundation 0 0 0 3,520 3,520
FAP/Goal/MA programmes 117,748 –19,513 –13,191 0 85,044
Total Development & Education programmes 160,789 355,350 421,499 518,207 1,455,845
FIFA World Football Museum 10,980 22,678 12,277 12,039 57,974
Personnel expenses 13,074 20,954 24,365 31,860 90,253
Depreciation of property and equipment 1,669 14,864 19,366 16,363 52,262
Impairment of property and equipment 0 13,986 0 0 13,986
Total Development & Education 186,512 427,832 477,507 578,469 1,670,320

8 FOOTBALL GOVERNANCE

in TUSD 2015 2016 2017 2018 Total

Football governance bodies and third-party services 18,509 13,443 9,785 12,928 54,665
Personnel expenses 15,567 16,894 13,301 16,740 62,502
Depreciation of property and equipment 1,590 1,416 1,479 1,811 6,296
Total Football Governance 35,666 31,753 24,565 31,479 123,463

144 | FIFA FINANCIAL REPORT 2018

 NOTES 2015-2018 ANNEXE | 7

9 FIFA GOVERNANCE & ADMINISTRATION

in TUSD 2015 2016 2017 2018 Total

Communications 32,639 26,050 17,863 18,619 95,171

Legal and governance costs related to investigations 20,238 50,465 14,377 5,904 90,984
Annual FIFA Congress & committees 20,620 27,028 14,810 16,615 79,073
Information technology 12,716 21,043 17,300 19,947 71,006
Legal costs 11,045 11,588 8,921 9,390 40,944
Buildings and maintenance 13,080 11,933 7,411 6,491 38,915
Other 20,108 20,781 16,112 33,883 90,884
Personnel expenses 56,043 64,312 61,006 72,244 253,604
Depreciation of property and equipment/
7,793 7,060 6,822 7,493 29,168
investment properties
Impairment of investment properties 0 7,925 0 0 7,925
e ce 194,282 248,185 164,622 190,586 797,675

10 MARKETING & TV BROADCASTING

in TUSD 2015 2016 2017 2018 Total

Broadcasting and media rights 10,630 9,739 8,770 15,891 45,030

Marketing rights 4,046 3,410 6,575 9,400 23,431
Licensing rights 2,577 2,154 4,585 1,605 10,921
Sales commission and other 720 720 3,121 71,894 76,455
Personnel expenses 9,848 10,397 12,833 16,197 49,275
Depreciation of property and equipment 1,668 1,485 1,197 1,316 5,666
e c 29,489 27,905 37,081 116,303 210,778

FIFA FINANCIAL REPORT 2018 | 145

Paul Pogba of France celebrates with
the World Cup Trophy following his
side’s victory in the 2018 FIFA World
Cup final between France and Croatia.
 110. Lebanon (LIB) 1936 172. Solomon Islands (SOL) 1988
111. Lesotho (LES) 1964 173. Somalia (SOM) 1962
112. Liberia (LBR) 1964 174. South Africa (RSA) 1992
113. Libya (LBY) 1964 175. South Sudan (SSD) 2012
114. Liechtenstein (LIE) 1976 176. Spain (ESP) 1904
1 2 3 4 5 6 55 56 57 58 59 60 115. Lithuania (LTU) 1923/1992 177. Sri Lanka (SRI) 1952
116. Luxembourg (LUX) 1910 178. St Kitts and Nevis (SKN) 1992
117. Macau (MAC) 1978 179. St Lucia (LCA) 1988
118. FYR Macedonia (MKD) 1994 180. St Vincent and the Grenadines (VIN) 1988
119. Madagascar (MAD) 1964 181. Sudan (SDN) 1948
120. Malawi (MWI) 1968 182. Suriname (SUR) 1929
121. Malaysia (MAS) 1954 183. Sweden (SWE) 1904
7 8 9 10 11 12 61 62 63 64 65 66 122. Maldives (MDV) 1986 184. Switzerland (SUI) 1904
123. Mali (MLI) 1964 185. Syria (SYR) 1937
124. Malta (MLT) 1960 186. Tahiti (TAH) 1990
125. Mauritania (MTN) 1970 187. Tajikistan (TJK) 1994
126. Mauritius (MRI) 1964 188. Tanzania (TAN) 1964
127. Mexico (MEX) 1929 189. Thailand (THA) 1925
128. Moldova (MDA) 1994 190. Timor-Leste (TLS) 2005
13 14 15 16 17 18 67 68 69 70 71 72 129. Mongolia (MNG) 1998 191. Togo (TOG) 1964
130. Montenegro (MNE) 2007 192. Tonga (TGA) 1994
131. Montserrat (MSR) 1996 193. Trinidad and Tobago (TRI) 1964
132. Morocco (MAR) 1960 194. Tunisia (TUN) 1960
133. Mozambique (MOZ) 1980 195. Turkey (TUR) 1923
134. Myanmar (MYA) 1948 196. Turkmenistan (TKM) 1994
135. Namibia (NAM) 1992 197. Turks and Caicos Islands (TCA) 1998
19 20 21 22 23 24 73 74 75 76 77 78 136. Nepal (NEP) 1972 198. Uganda (UGA) 1960
137. Netherlands (NED) 1904 199. Ukraine (UKR) 1992
138. New Caledonia (NCL) 2004 200. United Arab Emirates (UAE) 1974
139. New Zealand (NZL) 1948 201. Uruguay (URU) 1923
140. Nicaragua (NCA) 1950 202. US Virgin Islands (VIR) 1998
141. Niger (NIG) 1964 203. USA (USA) 1914
142. Nigeria (NGA) 1960 204. Uzbekistan (UZB) 1994
25 26 27 28 29 30 79 80 81 82 83 84 143. Northern Ireland (NIR) 1911 205. Vanuatu (VAN) 1988
144. Norway (NOR) 1908 206. Venezuela (VEN) 1952
145. Oman (OMA) 1980 207. Vietnam (VIE) 1964
146. Pakistan (PAK) 1948 208. Wales (WAL) 1910
147. Palestine (PLE) 1998 209. Yemen (YEM) 1980
148. Panama (PAN) 1938 210. Zambia (ZAM) 1964
149. Papua New Guinea (PNG) 1966 211. Zimbabwe (ZIM) 1965
31 32 33 34 35 36 85 86 87 88 89 90 150. Paraguay (PAR) 1925
151. Peru (PER) 1924
152. Philippines (PHI) 1930
153. Poland (POL) 1923
154. Portugal (POR) 1923
155. Puerto Rico (PUR) 1960
156. Qatar (QAT) 1972
37 38 39 40 41 42 91 92 93 94 95 96 157. Romania (ROU) 1923
158. Russia (RUS) 1912/1992
159. Rwanda (RWA) 1978
160. Samoa (SAM) 1986
161. San Marino (SMR) 1988
162. São Tomé and Príncipe (STP) 1986
163. Saudi Arabia (KSA) 1956
43 44 45 46 47 48 97 98 99 100 101 102 164. Scotland (SCO) 1910
165. Senegal (SEN) 1964
166. Serbia (SRB) 1923
167. Seychelles (SEY) 1986
168. Sierra Leone (SLE) 1960
169. Singapore (SIN) 1952
170. Slovakia (SVK) 1994
49 50 51 52 53 54 103 104 105 106 107 108 171. Slovenia (SVN) 1992 Year = year of FIFA affiliation
FIFA’S MEMBER
ASSOCIATIONS

1. Afghanistan (AFG) 1948 58. Dominica (DMA) 1994

109 110 111 112 113 114 163 164 165 166 167 168
2. Albania (ALB) 1932 59. Dominican Republic (DOM) 1958
3. Algeria (ALG) 1964 60. Ecuador (ECU) 1926
4. American Samoa (ASA) 1998 61. Egypt (EGY) 1923
5. Andorra (AND) 1996 62. El Salvador (SLV) 1938
6. Angola (ANG) 1980 63. England (ENG) 1905
7. Anguilla (AIA) 1996 64. Equatorial Guinea (EQG) 1986
8. Antigua and Barbuda (ATG) 1972 65. Eritrea (ERI) 1998
115 116 117 118 119 120 169 170 171 172 173 174
9. Argentina (ARG) 1912 66. Estonia (EST) 1923/1992
10. Armenia (ARM) 1992 67. Eswatini (SWZ) 1978
11. Aruba (ARU) 1988 68. Ethiopia (ETH) 1952
12. Australia (AUS) 1963 69. Faroe Islands (FRO) 1988
13. Austria (AUT) 1905 70. Fiji (FIJ) 1964
14. Azerbaijan (AZE) 1994 71. Finland (FIN) 1908
15. Bahamas (BAH) 1968 72. France (FRA) 1904
121 122 123 124 125 126 175 176 177 178 179 180
16. Bahrain (BHR) 1968 73. Gabon (GAB) 1966
17. Bangladesh (BAN) 1976 74. Gambia (GAM) 1968
18. Barbados (BRB) 1968 75. Georgia (GEO) 1992
19. Belarus (BLR) 1992 76. Germany (GER) 1904
20. Belgium (BEL) 1904 77. Ghana (GHA) 1958
21. Belize (BLZ) 1986 78. Gibraltar (GIB) 2016
22. Benin (BEN) 1964 79. Greece (GRE) 1927
127 128 129 130 131 132 181 182 183 184 185 186
23. Bermuda (BER) 1962 80. Grenada (GRN) 1978
24. Bhutan (BHU) 2000 81. Guam (GUM) 1996
25. Bolivia (BOL) 1926 82. Guatemala (GUA) 1946
26. Bosnia and Herzegovina (BIH) 1996 83. Guinea (GUI) 1962
27. Botswana (BOT) 1978 84. Guinea-Bissau (GNB) 1986
28. Brazil (BRA) 1923 85. Guyana (GUY) 1970
29. British Virgin Islands (VGB) 1996 86. Haiti (HAI) 1934
133 134 135 136 137 138 187 188 189 190 191 192
30. Brunei Darussalam (BRU) 1972 87. Honduras (HON) 1946
31. Bulgaria (BUL) 1924 88. Hong Kong (HKG) 1954
32. Burkina Faso (BFA) 1964 89. Hungary (HUN) 1907
33. Burundi (BDI) 1972 90. Iceland (ISL) 1947
34. Cambodia (CAM) 1954 91. India (IND) 1948
35. Cameroon (CMR) 1962 92. Indonesia (IDN) 1952
36. Canada (CAN) 1913 93. IR Iran (IRN) 1948
139 140 141 142 143 144 193 194 195 196 197 198
37. Cape Verde Islands (CPV) 1986 94. Iraq (IRQ) 1950
38. Cayman Islands (CAY) 1992 95. Republic of Ireland (IRL) 1923
39. Central African Republic (CTA) 1964 96. Israel (ISR) 1929
40. Chad (CHA) 1964 97. Italy (ITA) 1905
41. Chile (CHI) 1913 98. Jamaica (JAM) 1962
42. China PR (CHN) 1931/1980 99. Japan (JPN) 1921
43. Chinese Taipei (TPE) 1954 100. Jordan (JOR) 1956
145 146 147 148 149 150 199 200 201 202 203 204
44. Colombia (COL) 1936 101. Kazakhstan (KAZ) 1994
45. Comoros (COM) 2005 102. Kenya (KEN) 1960
46. Congo (CGO) 1964 103. Korea DPR (PRK) 1958
47. Congo DR (COD) 1964 104. Korea Republic (KOR) 1948
48. Cook Islands (COK) 1994 105. Kosovo (KVX) 2016
49. Costa Rica (CRC) 1927 106. Kuwait (KUW) 1964
50. Côte d’Ivoire (CIV) 1964 107. Kyrgyz Republic (KGZ) 1994
151 152 153 154 155 156 205 206 207 208 209 210
51. Croatia (CRO) 1992 108. Laos (LAO) 1952
52. Cuba (CUB) 1929 109. Latvia (LVA) 1923/1992
53. Curaçao (CUW) 1932
54. Cyprus (CYP) 1948
55. Czech Republic (CZE) 1907/1994
56. Denmark (DEN) 1904
57. Djibouti (DJI) 1994
157 158 159 160 161 162 211
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