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FIFA guarantee South African World Cup organisers $80m

FIFA has given a profit guarantee of USD 80 million, irrespective of the tournament's financial performance, to the organisers of the South African World Cup, reports euFootball.BIZ The decision to give the guarantee was reportedly made during the FIFA executive meeting held at the beginning of the week in Johannesburg as revealed by sources during the 60th FIFA Congress.

Vice-president of the German Football Association (DFB) Franz Beckenbauer is a member of the FIFA executive committee.

FIFA anticipates a profit in the three-figure million mark from World Cup 2010 and according to the organisations annual financial reports, released in March, FIFA had a profit of USD 196 million in 2009 and a reserve of USD 1.061 billion.

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