5 Things You Need To Know About The Business Of The World Cup

 (Giphy)

(Giphy)

There’s so much more to the tournament than scandals, corruption and billions in revenue, or is there?

 

So juicy it needs its own Neflix series,

The Last Night’s Game Team


5 Things You Need To Know About The Business Of The World Cup

1. We don’t like to throw around stats but they’re important for this one. There’s a reason the World Cup is the world’s most watched sporting event with over 3.2 billion people (essentially half the world’s population) watching the last World Cup. The sport itself is huge. In FIFA’s (Fédération Internationale de Football Association aka International Federation of Association Football) last count, over 265 million people in the world or 4% of the world’s population participates in some form of organized soccer. BY THE NUMBERS

 

2. The numbers surrounding the tournament are astounding with an expected $6 billion in revenue for FIFA and a prize pool of $791 million, of which $400 million will be awarded to teams based on their performance. WHERE DOES THE REST OF THE MONEY GO?

 

3. Besides the bragging rights and the eyesore 18-carat gold trophy, teams are competing for some serious prize money. The teams’ national federations will take home $8 million for their team showing up and $38 million in prize money if they finish in first place, $29 million for second and $24 million for third. HOW THE PLAYERS ARE PAID

 

4. Russia spent over $11 billion in a total of 11 host cities to put on the World Cup. While the tournament may provide a short burst of economic growth, the long-term benefits aren’t there. When countries bid on the tournament, unlike the Olympics where a city submits a bid, they are put through an evaluation process, which some say has been dishonest. At the center of the controversy is the site of the 2022 World Cup, Qatar, which is spending $500 million a week to get ready for the tournament. MORE ON CORRUPTION

 

5. With this year’s host country (Russia) under sanctions, countries have had to walk a fine line when sending dignitaries to the games. For the first time in a decade, due to political disagreements, a member of England’s royal family will not be in attendance. (Prince William is the president of the Football Association, which is the governing body of football – aka soccer – in England). CONTROVERSIAL RUSSIANS BENEFITTING FROM THE GAMES

 

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