SA gets $80m FIFA guarantee
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Johannesburg - FIFA has given local organisers of the 2010 World Cup a profit guarantee of $80m no matter how the tournament does financially, sources say.
Speaking on the sidelines of the 60th FIFA congress on Thursday, the sources said the decision on the guarantee had been made at a meeting of the FIFA executive committee at the beginning of the week in the South African city.
FIFA executive committee members include former German football star Franz Beckenbauer, now a vice-president of the German Football Association (DFB).
FIFA expects the 2010 World Cup to generate a profit reaching at least the three-figure million mark.
In its annual financial report, published in March, FIFA said it had made a profit of $196m in 2009 and amassed $1.061bn in reserves.
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