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TOKYO, JAPAN - WORLD football body Fifa says it has so far remained immune to the financial storm gripping the world, and vowed to help clubs that were struggling.
'Fortunately, our financial situation nowadays is a very comfortable one,' said President Sepp Blatter, adding that FIFA had multi-million dollar reserves.
'We can look forward with optimism, but optimism with a little bit of reduction in over-optimism.'
The majority of FIFA's revenues come from staging the World Cup every four years and the organisation said in October it had concluded a US$650 million (S$948 milliion) insurance package to cover the 2010 and 2014 events.
This is largely designed to protect against any event that might force either a postponement or a move of the tournament to another country.
As for South Africa in 2010, FIFA said 95 per cent of the budget had already been brought under contract and the organisation was on top of projected costs.
But Blatter is concerned that clubs around the world could be feeling the pinch, and said he has told FIFA's executive committee they must help wherever possible.
'We are concerned about the impact of the crisis on clubs. The economic situation is getting worse by the day, and it is hitting those at the bottom end the most,' he said.
'Certain leagues are losing their sponsors, then their TV rights. We need to show solidarity in these troubled times.
'Sir Alex Ferguson said recently that the crisis was even worrying Manchester United, and Karl Heinz Rummenigge explained that Bayern Munich would not be able to buy any players this winter.
'Whatever happens, I have told the members of the executive committee that we need to show solidarity in these times of crisis and help out those who need it most.' -- AFP
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