CIFA had $17K loss on World Cup tickets

The Cayman Islands Football Association had a loss of almost $17,000 on buying and selling World Cup tickets, according to its financial statements for 2013/2014. 

The accounts show expenditure of $95,150 on tickets for the tournament, with revenue of $78,450. 

Notes to the statements indicate the shortfall came from canceled or refunded tickets. They state, “Each World Cup year FIFA member associations are allocated tickets that can be purchased from FIFA and resold to its members. 

“During the year ended Dec. 31, 2014, the Association purchased World Cup tickets from FIFA on behalf of its members totaling $95,150. The tickets were sold to members at face value per the FIFA regulations totaling $78,450. 

“The difference between the FIFA tickets purchased and the revenues earned by the association resulted from ticket refunds and tickets that were ordered but later cancelled by members and the association was not able to find any new buyers for the tickets.”  

Bruce Blake, the acting president of CIFA, did not respond to requests for comment on this matter.

For the Cayman Compass’s full FIFA coverage, visit the Compass Data Desk.