The New Nation - Internet Edition

AP, Zurich

FIFA's finances are not at risk in the global financial crisis, president Sepp Blatter said on Friday.

Blatter described the world governing body's financial position as "somewhere between privileged and comfortable."

"For the time being, we have not lost money," Blatter said.

"We are well organized and well equipped to face up to the present crisis."

FIFA relies on the four-yearly World Cup for 90 percent of its revenue, and expects to earn US$3.2 billion (euro2.5 billion) in television and marketing revenue from the 2010 tournament in South Africa.

Blatter said 95 per cent of FIFA's budget for the current World Cup cycle is under contract with broadcasters and sponsors.

It will seek a US$650 million (euro516 million) insurance policy if the 2010 event and 2014 edition in Brazil have to be moved.

"If ever there were any catastrophe that would not allow us to hold a World Cup, we would prefer to buy insurance cover," Blatter said.He said FIFA was cautiously optimistic about football's future popularity.

"Football is still a very attractive product," he said. "We have between 10 and 12 national associations which are wanting to host the World Cup in 2018 and 2022."