ZURICH (AP) — FIFA says it earned record revenue of $2 billion last year, thanks to the World Cup's commercial power.

The governing body's annual financial report shows total profits of $337 million coming from the four-year cycle for the 2014 soccer tournament in Brazil.

FIFA pocketed $140.7 million in profit in 2014 alone. It added $91 million to its reserves, which now stand at $1.523 billion.

It expects income to keep rising for the 2018 World Cup in Russia despite FIFA and the host country's reputation issues.

FIFA's expenses also soared, topping $5.38 billion in the past four years.

Last year, FIFA spent $261 million in World Cup bonuses to soccer bodies, $27 million buying a hotel in Zurich and $39.7 million rewarding senior officials.

FIFA has agreed to pay clubs worldwide $209 million for releasing players to the World Cup in 2018 and in 2022.

FIFA and the 214-member European Club Association say the deal was previously done, but has now been confirmed by the FIFA executive committee.

The deal extends a FIFA-ECA working accord which expired last year, after sharing $70 million among clubs from 2014 World Cup revenues.

It also settles the issue of possible compensation for FIFA moving the 2022 World Cup in Qatar to November-December.

The deal surpasses the 150 million euros ($160 million) clubs will get from UEFA for releasing players to the 2016 European Championship.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • GRAHAM DUNBAR, AP Sports Writer

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.