The World Cup Qatar 2022 is Set to Deliver Record Revenue for FIFA

According to a report by Bloomberg, the World Cup Qatar 2022 is expected to deliver record revenue for organizers FIFA. 

According to a report by Bloomberg, the World Cup Qatar 2022 is expected to deliver record revenue for organizers FIFA. 

An anonymous source told the American television network that the tournament is on course to top the roughly $5.4 billion in revenue that the 2018 World Cup in Russia generated for football’s governing body.

Having pre-sold broadcasting rights, an estimated 240,000 hospitality packages and nearly three million tickets for the event, according to the source, marketing sales for FIFA’s 2019-2022 cycle will exceed a figure of approximately $1.8 billion.

The World Cup is sponsored by major brands including VISA, Hyundai Motor Group, Adidas and Coca-Cola Co. 

Revenue on an all-time high

Bloomberg reported that World Cup revenue has “risen from tournament to tournament on the back of football’s growing popularity around the globe” – despite “controversial”  hosts. 

Notably, in 2018, Russia faced criticism for failing to address racism and homophobia among some of its fans, as well as the country’s violent involvement in the protracted Syrian Crisis.

Qatar has come under similar fire for its laws on homosexuality, which is officially illegal in the Gulf state. With questions on whether members of the LGBTQ community would be welcome in the Gulf state during the World Cup, Qatari officials have repeatedly stressed that “everyone is welcome”.

“The entire world is welcome in our country. All we ask is that fans respect our laws, just as we are expected to respect yours when we visit you,” Qatar’s Foriegn Minister, Sheikh Mohammed bin Abdulrahman Al Thani told Le Monde in an interview last month.

FIFA is expected to exceed a revenue target of $6.4 billion for its 2019-2022 cycle, most of which comes from the World Cup, according to Bloomberg’s source.

The federation then uses this money to organise tournaments for their games and tournaments throughout the years, and develop the sport across 211 member associations. 

Source:- Doha News