Despite the fact that the 2014 world cup cost Brazil a whopping $15 billion the 2014 world cup generated $4.8 billion in revenue for FIFA compared to $2.2 billion in express on the four year cycle; the event turned a $2.6billion profit. FIFA made $2.4 billion on television rights fees, $1.6 billion in sponsorships, and $527 million in ticket sales.
Much of FIFA’s world cup spending want to participating teams and confederations($476million)and television production costs ($370million) FIFA contributed $453million to the local organising committee between 2011 and 2014, and gave Brazil a $100million ‘legacy’ payment after the tournament.
However, FIFA did not contribute to the real costs of staging the tournament – stadiums and transportation infrastructure.
The tournament cost an estimated $15billion, a significant portion of which was public money. Brazil spent $3.6billion building and renovating 12 stadiums for the tournament, less than a year later some of those are turning into white elephants. The $300million Arena Amazonia in Manaus for example, held just 11 events in the five months after the tournament.
The 2014 world cup accounted for 85% of FIFA’s revenue between 2011 and 2014. During the period the organisation made $338 million profit.
"They called Goodluck Jonathan, who gave you YouWIN and SURE-P, and PRESSID Scholarships clueless. So what do we call APC that gives you wheelbarrow? They said GEJ was tribalistic yet his NSA, CDS, IGP, CNS, CGP and minister of defense were from the North. So what do we say of President Muhammadu Buhari whose DG DSS is from his own hometown and whose Minister of Defense, Chief of Army Staff, Chief of Air Staff, NSA, IGP, CGP, CGI, CGP are all from his Northern Region? You see, no matter how far falsehood has travelled, it must eventually be overtaken by truth!"
-Reno Omokri(aide to Ex-President Goodluck Jonathan)
Trump clashes with world leaders on trade ,climate at G7 summit
NDLEA makes big catch at Seme border
U.S. Ambassador Unveils First State-of-the Art American Space in Nigeria
OPEC appoints Nigerian board chairman
Equatorial Guinea lauds Nigeria’s role in it’s joining OPEC
© CybokNews 2016 | All Rights Reserved