FIFA earns record $7.5 billion revenue for Qatar World Cup | Qatar 2022 World Cup


Earnings from this World Cup run are $1 billion more than those generated by the 2018 tournament in Russia.

FIFA has earned an unprecedented $7.5 billion in revenue through four years of commercial deals linked to the 2022 World Cup in Qatar, soccer’s governing body says.

The earnings, which FIFA revealed on Sunday to officials from more than 200 of its member nations, are $1 billion more than what the organization collected from the previous World Cup cycle leading up to the 2018 event in Russia.

The additional income was supported by commercial deals with this year’s hosts. Qatar Energy has joined as a first-tier sponsor, and new third-tier sponsors include Qatari bank QNB and telecommunications firm Ooredoo. FIFA also added secondary sponsorship deals this year from financial platform crypto.com and blockchain provider Algorand, its first new US 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 events in Russia and Qatar. These include deals with Fox in the United States and Qatari broadcaster BeIN Sports since 2011.

FIFA pays for the host countries’ organizing committees, prize money, travel and accommodation for the teams and support staff. It also pays for a legacy fund to help develop the sport in the host country after the World Cup circus leaves town.

The winners of the World Cup in Qatar will receive $44 million of the $440 million total.

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 brought in $6.4 billion. It used the money to help member organizations navigate the uncertainty of 2020, when national soccer matches and World Cup qualifiers were almost completely suspended.

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 an expanded 2026 World Cup in the United States, Canada and Mexico, which will feature 48 teams for the first time, up from the current 32.

FIFA has an almost blank slate for the 2026 edition with top sponsors Coca-Cola, Adidas and Wanda the only deals currently up for renewal. Separate sponsorship deals for women’s football are being signed for the 2023 World Cup in Australia and New Zealand.



Source link