The prize money is higher than ever for 2018 edition
FIFA World Cup is undoubtedly one of the biggest sporting events in sports only next to Olympics. The 2018 edition in Russia is going to be bigger than ever in terms of revenue for FIFA.
Just 20 years ago in 1998, FIFA spent $103 million for the World Cup in France. Fast forward, in Russia the apex football governing body will spend a staggering amount of $791 million. The amount is also 40 percent more than what FIFA spent four years ago in Brazil.
For the 2014 edition, FIFA spent a massive $576 million. In Russia, FIFA will be awarding a mammoth $400 million to the 32 teams that have qualified. This is a 12 percent increment from last world cup. The remaining $391 million will be used for team preparation and club benefit programmes.
How will the $400 million be used?
Each team will get at least $8 million for participating in the group stage as an incentive. On the other hand, the teams that progress to knockouts are set to get more prize money.
For example, teams that qualified for Round of 16 will get an extra $4 million and will take at least $12 million. Similarly, teams that reach quarterfinals will get an additional $4 million and will win at least $16 million.
On the other hand, the third placed team will earn $24 million and the fourth will bag $22 million. The champions will get a massive $38 million and the runners-up $28 million.
What about remaining $391 million?
Out of $391 million, each qualified team will get $1.5 million each for team preparations. This will incur spending of $48 million. Meanwhile, the apex body will also release $209 million for all the clubs across the world for releasing their players to play in the mega event.
This leaves with a chunk of $134 million which will be disbursed to clubs which incurred losses with injuries to their players during the tournament.
Although the prize money is quite less compared to UEFA champions league, the FIFA prize money would do a world of good for clubs outside Europe. UEFA recently payed a massive $1.6 billion in prize money for 2017-18 Champions League season.
How much does FIFA Earn?
Four years ago, FIFA made a massive $4.8 billion revenue from the event. Out of this, a major chunk came from broadcasting rights which accounted for $2.43 billion.
The marketing rights for the event back then generated a revenue of $1.53 billion. On the other hand, tickets accounted for $530 million and remaining rights handed another $300 million. All in all, FIFA will earn more than the aforementioned figures this summer.