FIFA boosts cash payments for World Cup

Posted 3 hours ago by

Jamaica Observer

VANCOUVER, Canada (AFP) — FIFA on Tuesday announced a sharp increase in overall financial distributions for this year's World Cup, boosting cash payments to nearly US900 million following concerns over the spiralling costs for teams taking part in the tournament.FIFA said in a statement that money shared from the tournament — being staged in Mexico, Canada and the United States — would now total US871 million, up from an initial figure of US727 million announced in December.Tuesday's announcement followed a meeting of FIFA's ruling council ahead of the body's Congress in Vancouver, taking place on Thursday.The hefty increase comes after several FIFA members reportedly raised concerns that the high cost of travel, tax and overall operations could result in them losing money from taking part in the tournament.FIFA has now moved to alleviate those concerns, increasing the award of US1.5 million for preparation costs to US2.5 million for each of the 48 qualified teams.A payment of US9 million for qualifying for the tournament has also been increased to US10 million.Further contributions for team delegation costs and increased team ticketing allocations are also part of the overall increase.FIFA is proud to be in its most solid financial position ever, enabling us to help all our member associations in an unprecedented way, FIFA President Gianni Infantino said in a statement.This is one more example of how FIFA's resources are reinvested back into the game.FIFA is projected to earn around US13 billion from the current four-year World Cup cycle, which concludes with this year's tournament, the largest World Cup in history.FIFA's prize money for the 2026 tournament, announced last year, had already shattered the cash handed out at the 2022 World Cup, increasing by 50 per cent.According to figures announced last year, the winning team of the World Cup will receive US50 million, with the runners-up US33 million.The third-placed team will receive US29 million and the fourth-placed side US27 million.