FIFA released its 2014 financial report, and it shows how the organisation profited off the World Cup that cost Brazil billions.
The 2014 World Cup generated $US4.8 billion in revenue for FIFA compared to $US2.2 billion in expenses. Over the four-year cycle, the event turned a $US2.6 billion profit.
FIFA made $US2.4 billion in TV rights fees, $US1.6 billion in sponsorships, and $US527 million in ticket sales.
Much of FIFA’s World Cup spending went to participating teams and confederations ($US476 million) and TV production costs ($US370 million). FIFA contributed $US453 million to the local organising committee between 2011 and 2014, and gave Brazil a $US100 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 $US15 billion, a significant portion of which was public money. Brazil spent $US3.6 billion building and renovating 12 stadiums for the tournament. Less than a year later, some of those are turning into white elephants. The $US300 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.
Here were FIFA’s costs and expenses for the tournament:
The 2014 World Cup accounted for 85% of FIFA’s revenue between 2011 and 2014. During the period the organisation made a $US338 million profit.
We’ve reached out to FIFA for comment.