Sun, 20 Nov 2022 08:25 PM IST
Ahead of the first encounter between hosts Qatar and Ecuador, FIFA has revealed that it has earned record revenues of USD 7.5 billion in the four years of commercial deals tied to the 2022 World Cup in Qatar.
The earnings were unveiled by FIFA to officials from more than 200 of its members. The revenue is USD 1 billion more than the income from the previous commercial cycle linked to the 2018 World Cup in Russia, reported news agency AP.
FIFA also added second-tier sponsor deals this year from financial platform crypto.com and a blockchain provider — its first new American sponsor in more than a decade.
Meanwhile, the extra income buoyed by commercial deals with the World Cup host country. Qatar Energy joined as a top-tier sponsor, and new third-tier sponsors include Qatari bank QNB and telecoms firm Ooredoo.
The key broadcast deals for this year's World Cup were signed during Sepp Blatter's presidency in two-tournament deals that included the Russia and Qatar tournaments. They included deals with Fox in the United States and Qatari broadcaster BeIN Sports from 2011.
FIFA's revenues will hike to nearly USD 2.5 billion despite the COVID-19 pandemic. FIFA was prepared to use that cash to help members through uncertainty in 2020 when national team soccer and World Cup qualifying games were almost entirely shut down.
According to reports, revenues are expected to approach USD 10 billion for the next four years thanks to a new financial strategy for women's soccer and the expanded 2026 World Cup in the United States, Canada, and Mexico.
Separate sponsor deals for women's soccer are being signed for the 2023 World Cup in Australia and New Zealand.
The 2026 men's tournament will have 48 teams instead of 32. FIFA has an almost blank slate for the 2026 edition with top-tier sponsors Coca-Cola, Adidas, and Wanda the only deals currently extended.