A group of European officials no longer want FIFA money.
The Swiss offices of reported loan to borrow money from international soccer to international management $2 billion value of loans in the capital of Bern received criticism.
“The priority is to have low-risk and short-term investments in order to fulfill the mandate, the develop football worldwide,” said a FIFA spokesperson.
FIFA’s financial practices have drawn criticism after the 2015 corruptionwhere 14 people were charged for wire fraud, embezzlement, and money laundering.
Officials in Switzerland have issued a motion requiring Bern to make and implement administrative rules regarding lending practices.
- The Swiss national governing body was handed over by FIFA $2 million in 2016.
- A year later, FIFA increased the loans and the loans are on the rise $447.2 million.
- Loans from FIFA are profits from media rights and sponsorship deals.
The Zurich organization has invested $5.3 billion in soccer in the tournament four years ago.
FIFA hope to get it $11 billion for the commercial cycle 2023-26 – with almost a 50% increase in revenue – thanks in large part to sponsorships and media deals for the men’s World Cup.
In 2026, FIFA will expand the World Cup from 32 teams to 48.
FIFA produced $7.5 billion in revenue for the 2019-22 cycle – $1 billion more than budgeted.