FIFA to Distribute Record-Breaking Prize Money for Club World Cup
Football’s governing body, FIFA, is set to distribute about one billion dollars in prize money to participants of this year’s Club World Cup being held in the United States, as reported by a source close to the discussions to AFP on Wednesday.
The prize money allocated for this year’s Club World Cup surpasses that of the previous men’s and women’s World Cups, marking a significant increase in funding for the tournament.
Although FIFA has not disclosed detailed information on the financing of this inaugural edition of the 32-team tournament, which will now take place every four years, the organization has recently secured a broadcaster and multiple major sponsors to support the event.
The British streaming service DAZN has been awarded exclusive global broadcasting rights for the tournament, which is scheduled to run from June 14 to July 13. Reports suggest that the broadcasting contract with DAZN is valued at approximately one billion euros ($1.05 billion).
Furthermore, FIFA has finalized sponsorship deals with prominent companies such as Coca-Cola, Bank of America, Hisense, and AB InBev, solidifying financial support for the Club World Cup.
Comparatively, the prize money for the upcoming men’s World Cup in Qatar in 2022 is set at $440 million, while the 2023 Women’s World Cup in New Zealand and Australia will offer $110 million in total prize funds.
The UEFA Champions League for this season, with its new 36-club format, plans to distribute a staggering 2.47 billion euros ($2.66 billion) among the participating clubs, highlighting the lucrative nature of top-tier football competitions.
Despite the financial gains, FIFA’s decision to expand the Club World Cup has faced criticism, particularly from European stakeholders who raise concerns about player health and safety. In October, FIFPro and the European Leagues association lodged a complaint with the European Commission, accusing FIFA of congesting the football calendar and potentially jeopardizing player welfare.
Similarly, UEFA’s expansion of the Champions League has sparked discussions among players, with some, like Ballon d’Or winner Rodri and Liverpool captain Virgil van Dijk, hinting at the possibility of a strike to address the intensified schedule and competitive demands.
