It’s been over 1 year since the 2014 FIFA World Cup reached it’s end and the football governing authority has released their financial report from the concluded event and this report shows that FIFA profited billions from the worldwide football competition which is a staggering amount of money and it’s because of this kind of things that the World Cup, or more specifically, FIFA has earned such a bad reputation in the world of football.
Brazil had to spend $15 billion for the previous edition of the World Cup to take place; a large amount of this money was public money which means that it was supposed to be used to help out the citizens of the South American with new roads, infrastructure and things of this nature and this is why so many protests in relation to the World Cup taking place in Brazil were held even before the event took place and why it still continues being an issue.
Including all the rights from TV, Marketing, Licensing and Hospitality, FIFA earned revenues in the region of $4 million while their costs were less than half of their total revenues.
Some of the biggest costs that Brazil had to deal with in getting ready for this competition were in relation to the construction of the stadiums and transportation structures and FIFA didn’t contribute in any way for these staggering costs, which is why Brazil had to offload so much cash in removing 12 of their own stadiums as well as completely building new ones so that the competition could take place.
The majority of FIFA’s World Cup spending went to the participating teams and confederations as well as TV production costs and all of this racked up to around $800 million in costs for the football governing authority which is not much compared to their significantly high revenue earned from the 2014 World Cup.