The headquarters of FIFA, the governing body of Football, Majestically sits in Zurich, Switzerland. It was founded jointly by six countries, Denmark, France, the Netherlands, Spain, Sweden, and Switzerland over 100 years ago. England, the mastermind of beautiful games joined a year later in 1905. And the international football federation has been expanding ever since. Today boasting with 209 member states, FIFA is an even larger organization than United Nations. FIFA rules over the planet’s most popular sports with an iron fist. It is believed that more than 500 million people have connections with football in one way or the others from board members to the fans and everyone in between. FIFA’s flagship event is the World Cup which is held once in four years. It is the largest source of revenue, to the tune of hundreds of millions of Euros. Its bank accounts hold around 1.4 billion Euros, most of which comes from the sale of television rights and World Cup sponsors. About 90 percent of FIFA’s revenue comes from the sale of rights to broadcast the World Cup. In 2010, when the biggest competition on the planet was hosted by South Africa, FIFA lapped up an estimated 2.2 billion Euros in television rights. According to the football body, almost 70% of FIFA’s expenditure goes back into football development programs and financing companies. The federation has a reserve fund of 1.52 billion Euros. This federation was set up in 1904 with a one and only aim to Develop or Promote Football across the Globe. The tournaments are held for both men and women as World Cup, Tournaments in the Olympics, and Confederation Cup. It is also responsible for disciplining national associations and possesses the power to suspend countries from international competition. According to estimates, during the financial period 2011-2014 incorporating the Brazil World Cup, FIFA earned 5.27 billion Euros in revenues with a profit of 338 million Euros. FIFA’s marketing division employs some 60 professionals from18 countries, covering a wide range of fields of expertise within the sports business industry. The key sponsors for FIFA World Cup are Coca-Cola, Adidas, Sony, Gazprom, Hyundai, Visa, and Budweiser. The organization also has a reserve fund for a backup. FIFA’s marketing division employs nearly 60 professionals from 18 countries, covering a wide range of fields of expertise within the sports business industry. Though there are many federations that are rich in the industry, FIFA is one among the few. It has a noble cause to develop the sport Worldwide. That noble cause is something that makes it richer. Thus it is a yes, it is the richest federation but if you ask if it is the only richest federation no it surely has company.
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