Fifa set to make $6 1 billion from world cup 2018

FIFA set to make $6.1 billion from World Cup 2018

FIFA set to make $6.1 billion from World Cup 2018 on Business Standard. Revenue from television rights sales was 2% more than FIFA's $3 billion target

Latest News China’s men’s national team has played in just one World Cup, in which it finished 31st out of 32 teams.

But the nation is playing an essential role in righting the financial ship of FIFA World Cup 2018, the governing body for world soccer that has struggled to regain the trust of Western companies in recent years.

According to FIFA financial documents reviewed by The New York Times, the 2018 World Cup that kicks off Thursday in Moscow is set to generate $6.1 billion in revenue — 10 per cent more than FIFA had estimated for the tournament and $1.3 billion more than the last World Cup produced in 2014 in Brazil.

Revenue from television rights sales was 2 per cent more than FIFA’s $3 billion target, and FIFA’s sponsorship deals generated $200 million more than the $1.45 billion it had projected, largely because of a slew of deals with Chinese companies. Seven of the 20 companies sponsoring the tournament are Chinese, up from just one at the last World Cup. FIFA also saw a 233 per cent increase in annual royalties last year from EA Sports, the maker of the popular FIFA video game franchise. The company paid FIFA $160 million in 2017.

China’s renewed interest in soccer was spurred by President Xi Jinping’s demand in 2015 that the country build a sports economy, with a particular focus on soccer. At the same time, Western companies were becoming increasingly hesitant of doing business with FIFA in the wake of a corruption investigation by the United States Justice Department.

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