Thursday, June 21, 2018

Who Makes Money from the 2018 FIFA World Cup - CNBC

The FIFA World Cup is the most lucrative and costliest soccer event because those who pay for the tournament are not necessarily those who see its profits. FIFA, soccer's organizational leader around the world, rakes in billions of dollars in revenue every four years from the World Cup, while the nations that host the tournament foot a bill of $10 billion or more.
The 2018 tournament is being held in 11 Russian cities, beginning with 32 teams in a knockout tournament format. The winner is crowned July 15. Construction and preparation for the tournament have handed an $11.8 billion bill to Russia, according to USA Today, with more than 70 percent coming from public funding. Teams will win portions of the $400 million in total prize money up for grabs, according to FIFA, from $8 million per team for participating to $38 million for the winner. Banks such as UBS and Goldman Sachs have run algorithms to predict the winner, with the former picking Germany and the latter choosing Brazil. The teams last faced in the semifinal of the 2014 World Cup, with Germany demolishing Brazil in a 7-1 victory.
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