- Associated Press - Friday, March 30, 2012

ZURICH (AP) - FIFA says it made a profit of $36 million in 2011 and increased its reserves to $1.3 billion.

FIFA accounts showed it had $1.07 billion revenue and spent $1.03 billion last year.

It banked an additional $13 million in its reserve fund.

The figures cover the first year in a four-year cycle of commercial deals tied to the 2014 World Cup in Brazil.

FIFA said the tournament earned $910 million in 2011, and $550 million was banked from broadcasting deals.

Nearly all broadcasters and sponsors are signed to two-tournament packages that began with the 2010 tournament in South Africa.

FIFA pays no income tax because of its status in Swiss law, and exemptions granted by tournament host nations.

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