FIFA has $1.2 billion in reserves

Updated: February 23, 2011, 8:59 AM ET
Associated Press

KHARTOUM, Sudan -- FIFA has reserves of $1.2 billion thanks to the 2010 World Cup in South Africa, president Sepp Blatter said Wednesday.

Blatter told African football leaders that the financial results were better than the 2006 World Cup hosted by Germany.

He said more details of its success will be published next week in FIFA's annual report.

FIFA began the World Cup year with reserves of $1.06 billion.

FIFA said that money could sustain it for 18 months if a World Cup was canceled.

Blatter opened the Confederation of African Football assembly saying the continent should be proud of organizing the World Cup.

Copyright 2011 by The Associated Press