FIFA makes $72M profit; raises reserves to $1.4B

ZURICH (AP) -- FIFA says its reserves grew to $1.432 billion after making a $72 million profit in 2013. Soccer's governing body had income of $1.386 billion and spending of $1.314 billion in the third year of a four-year commercial cycle linked to the 2014 World Cup. FIFA's financial results typically peak in a World Cup year, which will be reported next March. FIFA paid $17 million in tax linked to its subsidiary companies, including Early Warning System, which monitors gambling on soccer, and financial assets. FIFA President Sepp Blatter's salary and benefits were not detailed. Blatter is among the FIFA leaders and executives who shared bonus payments totaling $36.3 million.