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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.
This amount is considerably higher than the prize funds allocated for the previous men’s and women’s World Cups.
While FIFA has provided limited information regarding financing this inaugural edition of the 32-team tournament, which will occur every four years, it has recently secured a broadcaster and several major sponsors.
The British streaming service DAZN was granted exclusive global broadcasting rights for the tournament scheduled from June 14 to July 13, with reports indicating the contract is valued at around one billion euros ($1.05 billion).
Additionally, FIFA has finalised sponsorship agreements with Coca-Cola, Bank of America, the Chinese electronics firm Hisense, and the Belgian brewing company AB InBev.
In contrast, the total prize money for the men’s World Cup in Qatar in 2022 amounted to $440 million, while the 2023 Women’s World Cup in New Zealand and Australia offered $110 million.
This season’s UEFA Champions League, now featuring a new 36-club format, plans to distribute 2.47 billion euros ($2.66 billion) among the participating clubs.
FIFA’s decision to expand the tournament has faced significant backlash, mainly from Europe, primarily due to player health and safety concerns.
In October, the global footballers’ union FIFPro and the European Leagues association complained to the European Commission, alleging FIFA was misusing its dominant position by congesting the football calendar.
UEFA also expanded the Champions League this season, leading some players, including Ballon d’Or winner Rodri and Liverpool captain Virgil van Dijk, to suggest the possibility of a strike.
