Fifa to help clubs

Tokyo - 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.

The majority of Fifa's revenues come from staging the World Cup every four years.

Blatter however expressed concern that clubs around the world could be feeling the pinch and said he had told Fifa's executive committee that they would help wherever possible.

"We're concerned about the impact of the crisis on clubs. The economic situation is getting worse by the day and it's affecting those at the bottom end the most.

"Certain leagues are losing their sponsors, followed by 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."

The organisation said in October that it had concluded a $650m insurance package to cover the 2010 and 2014 events.

As for South Africa in 2010, Fifa said 95% of the budget had already been brought under contract and the organisation was on top of projected costs.

- AFP