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$369 million

FIFA announces $369 million loss with worse to come

ZURICH: FIFA on Friday announced a $369 million loss for 2016, a second straight annual deficit, as it recovers from scandals that have rocked world football and acknowledged it had to use hundreds of millions of dollars of its reserves. The game’s world governing body blamed the cost of investigating the scandals, bad investments and accounting changes. But there is worse to come for the organisation, which is rebuilding after its near collapse at the end of the tainted Sepp Blatter era. It expects to lose $489…