In this file picture taken on Feb 15, 2019, a picture shows the FIFA logo during a press conference held by the president of the football's governing body at the FIFA Executive Football Summit in Istanbul. (OZAN KOSE / AFP)

GENEVA - The International Federation of Football Association (FIFA) has approved the Annual Report 2022 with a record-breaking revenue of $7.6 billion during the 2019-2022 cycle.

"FIFA's unprecedented investment in football is the result of our solid financial transparency and stands as a concrete example of how we are aiming to make football truly global," FIFA president Gianni Infantino was quoted as saying in a press release on Tuesday.

"The resounding success of the FIFA World Cup 2022 in Qatar has been key to the organization's ability to fulfill its mission in relation to our member associations and the world of football, despite the multiple challenges we faced during the past cycle, not least the COVID-19 pandemic," he added.

According to the report, the FIFA Council expected to earn $11 billion more during the 2023-2026 period.

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FIFA's unprecedented investment in football is the result of our solid financial transparency and stands as a concrete example of how we are aiming to make football truly global.

Gianni Infantino, FIFA president

The FIFA Council announced Saudi Arabia as the host of the FIFA Club World Cup 2023 on Dec 12-22.

As the Council expanded the Club World Cup from 24 to 32 teams in December, the slot allocation for each continent was announced as Europe has 12, South America 6, Asia, Africa and Concacaf 4 each. The other two go to Oceania and the host.

Canada, Mexico and the United States, the hosts of the 2026 FIFA World Cup, will qualify automatically for the final round of the competition, announced by the Council. Their slots are deducted from the overall allocation of six assigned to Concacaf.

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The 73rd FIFA Congress will be held in Kigali, Rwanda, on March 16 to discuss more issues about future tournaments.