FIFA made an insane amount of money off of Brazil's $15 billion World Cup
- 13 Jun, Wednesday, 2018 | 07:13:00 Published
FIFA released its 2014 financial report, and it shows how the organization profited off the World Cup that cost Brazil billions.
The 2014 World Cup generated $4.8 billion in revenue for FIFA compared to $2.2 billion in expenses. Over the four-year cycle, the event turned a $2.6 billion profit.
FIFA made $2.4 billion in TV rights fees, $1.6 billion in sponsorships, and $527 million in ticket sales.
Much of FIFA's World Cup spending went to participating teams and confederations ($476 million) and TV production costs ($370 million). FIFA contributed $453 million to the local organizing committee between 2011 and 2014, and gave Brazil a $100 million "legacy" payment after the tournament.
However, FIFA didn't contribute to the real costs of staging the tournament - stadiums and transportation infrastructure.
The tournament cost an estimated $15 billion, a significant portion of which was public money. Brazil spent $3.6 billion building and renovating 12 stadiums for the tournament. Less than a year later, some of those are turning into white elephants. The $300 million Arena Amazonia in Manaus, for example, held just 11 events in the five months after the tournament.
Widespread protests related to World Cup spending erupted across the country in 2013.
The 2014 World Cup accounted for 85% of FIFA's revenue between 2011 and 2014. During the period the organization made a $338 million profit.
from businessinsider.
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