FIFA has insured the 2010 and 2014 World Cup events for $ 650 million should they have to be postponed or relocated, reports the Sophia Echo. This has been standard FIFA practice since 1998. The insurance policy provides cover against terrorism, natural disasters, epidemics, war, accidents or turmoil.
Following an executive meeting held earlier this week, FIFA announced that preparations for the 2009 Confederations Cup and 2010 World Cup are on track, and that it is confident that the global credit crunch will not affect the two World Cup events to come.
FIFA’s finances have not been affected by the credit crunch, its investments being diversified, it being largely immune to exchange rate fluctuations, 90 % of its 2007 – 2010 income being under contract, it exercising good cost management and having a diverse porrtfolio of commercial and media partners, said FIFA General Secretary Jerome Valcke.
The meeting also decided that the last club matches should be played on 16 May 2010, to protect the players and allow them to rest. An exception will be the UEFA Champions League final, which is scheduled for 22 May 2010.
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