Qatar: FIFA commercial revenue hits $7 billion as the 2022 World Cup continues

DOHA, Qatar - The Qarar 2022 World Cup has earned the World Football governing body –FIFA a commercial revenue of $7.5 billion.

This is $1 billion more than income earned from the previous commercial cycle linked to the 2018 FIFA World Cup in Russia.

Experts now argue that FIFA’s revenues are more likely to hit the $10 billion mark in the next four years.

This comes after FIFA President Gianni Infantino while addressing the press in Doha, Qatar last Saturday also revealed three sponsors; two American and one from the Middle East revealed that the federation has adopted a new financial strategy.

This new strategy adopted by FIFA will see the FIFA Women’s World cup scheduled for the 2023 World Cup in Australia and New Zealand will have a separate sponsor.

While the 2026 World Cup which will be hosted by the United States, Canada, and Mexico has been seen as a way of attracting more sponsors from these three countries also the tournament will have 48 teams instead of 32.

So far the 2026 FIFA world cup edition has the top-tier sponsors Coca-Cola, Adidas, and Wanda commercial contracts renewed.

Earlier this year in a meeting in Qatar, the football governing body promised to allocate more funds to member federations.

FIFA promised to increase their basic grant by 33 % to $8 million in total from 2023-27.

The $ 1 billion extra income realized at the Qatar 2022 world cup has been driven by commercial deals from companies based in the World Cup host country.

Qatar Energy – a state-owned company is one of the top-tier sponsors while new third-tier sponsors included Qatari bank QNB and telecoms firm Ooredoo.

The 2022 world cup also had a second–tier sponsor from financial platform crypto.com and a blockchain provider The broadcasting rights deals for this year's 2022 World Cup were signed during Sepp Blatter’s regime 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.

GAROWE ONLINE