FIFA declared on Wednesday that participants in this year's Club World Cup in the United States will receive combined prize money of one billion dollars.
"The FIFA Club World Cup will not only be the pinnacle of club football, but also a vivid demonstration of solidarity that will benefit clubs at large to a scale that no other competition has ever done," said FIFA president Gianni Infantino.
"All revenue generated by the tournament will be distributed to the participating clubs and via club solidarity across the world as FIFA will not keep a single dollar."
Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!This sum substantially exceeds the prize money allocated for both recent men's and women's World Cup tournaments.
The global football authority has provided limited information regarding the financing of this inaugural 32-team competition, scheduled to occur quadrennially, though it has recently secured agreements with a broadcaster and major sponsors.
FIFA's statement confirming the prize money allocation indicated an anticipated revenue of $2 billion from the expanded Club World Cup. Additionally, they confirmed the introduction of a women's edition beginning in 2028.
DAZN, the British streaming platform, secured worldwide exclusive rights to the tournament scheduled for June 14-July 13, with insider sources indicating the deal value approximated one billion euros ($1.05 billion).
FIFA has established additional sponsorship agreements with several major corporations, including Coca-Cola, Bank of America, Chinese electronics manufacturer Hisense, and AB InBev, the Belgian brewing company.
For reference, the 2022 men's World Cup in Qatar distributed $440 million in prize money, whilst the 2023 Women's World Cup in New Zealand and Australia offered $110 million.
The UEFA Champions League's revised 36-team structure for this season will distribute total payments of 2.47 billion euros ($2.66 billion) amongst participating clubs.
(With AFP inputs)The TOI Sports Desk excels in a myriad of roles that capture the ...
Read MoreThe TOI Sports Desk excels in a myriad of roles that capture the essence of live sporting events and deliver compelling content to readers worldwide.
From running live blogs for India and non-India cricket matches to global spectacles featuring Indian talents, like the Chess World Cup final featuring Praggnanandhaa and the Badminton World Championships semifinal featuring HS Prannoy, our live coverage extends to all mega sporting events. We extensively cover events like the Olympics, Asian Games, Cricket World Cups, FIFA World Cups, and more.
The desk is also adept at writing comprehensive match reports and insightful post-match commentary, complemented by stats-based articles that provide an in-depth analysis of player performances and team dynamics.
We track news wires for key stories, conduct exclusive player interviews in both text and video formats, and file content from print editions and reporters. We keep track of all viral stories, trending topics and produce our own copies on the subjects.
We deliver accurate, engaging, and up-to-the-minute sports content, round the clock.
Read Less
Start a Conversation
Post comment