- Profits from this World Cup cycle are $1 billion more than those generated by the 2018 tournament in Russia.
FIFA has earned record revenue of $7.5 billion through four years of trade deals tied to the 2022 World Cup in Qatar, soccer’s governing body says.
The additional revenue was driven by commercial agreements with this year’s hosts. Qatar Energy joined as a top-tier sponsor, and new third-tier sponsors include Qatari bank QNB and telecommunications firm Ooredoo. FIFA also added second-tier sponsorship deals this year from financial platform crypto.com and blockchain provider Algorand, its first new U.S. sponsor in more than a decade.
Key broadcast deals for this year’s World Cup were signed during Sepp Blatter’s presidency in two-tournament deals for the Russia and Qatar events. They included deals with Fox in the United States and Qatari broadcaster BeIN Sports since 2011.
FIFA pays for host countries’ organizing committees, prize money, travel, and accommodation for teams and support staff. It also pays a legacy fund to help develop the sport in the host country after the World Cup circus has left the city.
FIFA organizes its accounts in four-year cycles around each World Cup. For the 2015-18 cycle leading up to the World Cup in Russia, the governing body raised $6.4 billion. It has used that money to help member bodies overcome uncertainty in 2020 when qualifying matches for the national soccer team and World Cup were almost completely closed.
The organization’s revenue is likely to approach $10 billion over the next four years, thanks to a new financial strategy for women’s soccer and the expanded 2026 World Cup in the United States, Canada, and Mexico, which will see 48 teams compete for the first time, up from 32 currently.
FIFA has a near-blank slate for the 2026 edition with top-tier sponsors Coca-Cola, Adidas, and Wanda the only deals currently extended. Separate sponsorship deals are being signed for women’s football for the 2023 World Cup in Australia and New Zealand.
Source: Al Jazeera
Stay Tuned with Us: