Despite being banned from the world of international football for eight years, Sepp Blatter will continue to receive his salary from FIFA until a new president is elected in late February, a FIFA spokesperson confirmed to Simon Evans of Reuters.
Blatter, along with Michel Platini, were kicked out of soccer in December when the FIFA ethics committee handed down 8-year suspensions for both over a $2 million conflict-of-interest payment FIFA made to Platini that was approved by Blatter and is part of a Swiss criminal investigation.
As Evans notes, Blatter was originally suspended for 90 days in early October which means Blatter will ultimately be paid five months of his salary during a period in which he was not serving as FIFA's president.
While Blatter's salary is unknown, FIFA's financials do say that they paid out $39.7 million in salaries in 2014 to "key management personnel," which would include Blatter. Using that data and other pieces of evidence, Roger Piekle Jr. of Sporting Intelligence was able to make a strong argument that Blatter's salary is in the range of $6-16 million per year.
If we use the lower end of that range, that would mean Blatter will ultimately be paid at least $2.5 million during his suspension, which is more than the payment to Platini that led to the suspensions in the first place.
In 2011, Blatter claimed that his salary at the time was "$1 million, perhaps a bit more."
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.