FIFA to pay $1 billion prize money for Club World Cup

FIFA will pay a total prize money of $1 billion to participants in the Club World Cup taking place in the United States this year, a source close to negotiations told AFP on Wednesday.

The figure is significantly more than the prize money offered for either the last men’s or women’s World Cups.

World football’s governing body has given few details about the funding of the first edition of the 32-team tournament that will take place every four years but it has signed up a broadcaster and major sponsors in recent weeks.

British streaming service DAZN was awarded the exclusive global rights to the June 14-July 13 tournament in December with a source close to the negotiations saying the contract was worth around one billion euros ($1.05 billion).

Also, FIFA has secured sponsorship agreements with major brands like Coca-Cola, Bank of America, Chinese electronics company Hisense, and Belgian brewer AB InBev.

Interestingly, the 2022 FIFA Men’s World Cup in Qatar had a total prize pool of $440 million, while the 2023 FIFA Women’s World Cup in Australia and New Zealand awarded $110 million.

Meanwhile, the newly expanded UEFA Champions League, featuring 36 clubs, will distribute €2.47 billion ($2.66 billion) in prize money this season.

Despite the mouth-watering sums involved, FIFA has received staunch criticism for the Club World Cup. The global footballers’ union FIFPro and the European Leagues association have filed a complaint with the European Commission, accusing FIFA of exploiting its position and overloading the football calendar, raising concerns over player welfare.

The tournament will feature 12 teams from Europe, six from South America, and four each from Asia, Africa, and North and Central America, with Auckland City and Lionel Messi’s Inter Miami completing the line-up.

Elite European clubs like Real Madrid, Chelsea, and Manchester City are also in line to secure a substantial sum from the lucrative prize pool. The European Club Association (ECA) continues negotiations on behalf of European clubs, with discussions also ongoing regarding solidarity payments for non-participating clubs.

The tournament will be hosted across 12 venues in 11 U.S. cities, culminating in the final at New Jersey’s MetLife Stadium, which will also stage the 2026 World Cup final.

Source: LIB