FIFA Increases World Cup Prize Money

Prize money for Brazil 2014 would be a total of N95 billion FIFA, the world football governing body, has announced new prize money for the 2014 World Cup and hosts of other age-group events. It said in a statement, following its executive committee meeting on Thursday, that the new prize money would be $576 million (about N95 billion) for next year’s tournament. This was an increase of 37 per cent in comparison with the $420 million (about N69 billion) on offer for the 2010 World Cup in South Africa. The winner in Brazil would receive $35 million (N5.41 billion), followed by $25 million (N3.96 billion) for the runners-up. Twenty-two million dollars (N3.48 billion) and $20 million (N3.16 billion) would be awarded to the third- and fourth-placed teams respectively and $14 million (N2.216 billion) for the quarter-finalists. 

The governing body also announced that South Korea would host the U-20 World Cup in 2017, with South Africa staging the U-20 Women’s World Cup in 2016. India will have an opportunity to showcase its credentials as a major event destination by hosting the U-17 World Cup in 2017, while Jordan would hold the U-17 Women’s World Cup in 2016. The governing body added that Mexico City and Kuala Lumpur would stage the FIFA Congress in 2016 and 2017 respectively. Meanwhile, Nigeria has been grouped in Group F with Argentina, Iran and Bosnia Herzegovina in the 2014 World Cup draw held on Friday in Brazil. According to the draw, Nigeria would play its first match against Iran in the group match.