FIFA announces $36M profit in 2011 accounts

FIFA says that it has made a profit of $36 million on its billion-dollar income in 2011 and increased its reserves to $1.293 billion.

FIFA accounts showed it had $1.07 billion revenue and spent $1.034 billion last year.

It banked an additional $13 million in its reserve fund.

The figures cover the first year in a four-year cycle of commercial deals tied to the 2014 World Cup in Brazil.

FIFA said the tournament earned $910 million in 2011, and $550 million was banked from broadcasting deals.

Nearly all broadcasters and sponsors are signed to two-tournament packages that began with the 2010 tournament in South Africa.

FIFA pays no income tax because of its status in Swiss law, and exemptions granted by tournament host nations.