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Uefa makes big profits as Fifa loses money

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Uefa made €847m on its expanded European championships in 2016, an increase of €500m on 2012. Total revenue for the championships was €1.92bn.   Income for the 2016 financial year was €4.58bn.

Broadcasting accounts for 50 per cent of Uefa's revenues and sponsorship for 20 per cent.   Reserves amount to €632m.

In contrast, Fifa made a $122m loss last year.   Revenues for commercial and marketing deals related to the 2018 World Cup were $246m in 2015, down from $404m in 2013.   It lost several big names, including Sony and Emirates Airline, when their deals ended after the last tournament in 2014.  Fifa has secured only one Russian sponsor for the tournament, Alfa-Bank, which is paying for the lowest 'tier' of support.

Hisense, the Chinese consumer electronics group, has become a top tier sponsor .  However, the 15-month deal, believed to be worth around $100m, is far shorter than previous arrangements Fifa has sought.  Last year, Wanda, the real estate and leisure conglomerate, signed a deal for the next four World Cups.