The bar has been raised for this year’s world cup football tournament currently holding in Russia. The winner of the tournament will be walking away with $38 million. This figure is noticeably higher than the award handed over to Germany when it won the tournament three years ago.
FIFA announced that the total funds set aside for this tournament were $400 million, from this purse, the winning national team will be rewarded for their hard work and victory. Other participating countries are also expected to receive about $8 million each to cover costs incurred during this tournament. The national team that comes second during this football tournament will also receive $28 million. While the third and fourth national teams will get $24 and $22 million for their achievements.
From all indications, these rewards have been increased from the amounts paid three years ago. Every team gets something for their efforts as usual. The funds have been provided by FIFA from the revenues generated by the World Cup organizing body. In total, it is expected that the revenue will exceed $5 billion even with the minor setbacks experienced during the sales of sponsorships due to the investigations into corruption charges.
This was confirmed by the FIFA President Gianni Infantino who in a statement affirmed that the revenue is expected to be more than expected from the current financial projections.
It will also be recalled that about $100 million is still inaccessible from the previous world cup tournament held in Brazil. This money is disputed in the midst of some corruption charges still being investigated. The money in dispute would have been used to redeem pledges made by FIFA to promote grassroots football and women’s football as well as healthcare and the provision of social amenities in poor communities within Brazil.
In view of preventing disputes and fraudulent practices, Infantino has confirmed that funds will now be handled separately by a new organization that will also be in charge of handling the funding for projects to be done under his leadership.
FIFA has also made plans to acknowledge the winning team of the Intercontinental Cup which has been organized from 1960 to 2004. It is a competition between the champions of the European Cup and the Copa Libertadores. In 2005, the Intercontinental Cup was rebranded to become the Club World Cup which involved all continental champions. The next edition will be held in Abu Dhabi in 2018.
Infantino has however hinted that there are plans to review the Club World Cup to replace the Confederation Cup which is scheduled to hold in 2021. With these on-going plans, we expect to have a wonderful world cup tournament which has already started on an exciting note with the host country Russia winning their world cup game.
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The bar has been raised for this year’s world cup football tournament currently holding in Russia. The winner of the tournament will be walking away with $38 million. This figure is noticeably higher than the award handed over to Germany when it won the...