FIFA’s profit reached 7.5 billion dollars for the current period of the World Cup

DOHA, Qatar (AP) — FIFA earned a record $7.5 billion in four years of commercial deals related to the 2022 World Cup in Qatar, soccer’s governing body said Sunday.

The three final sponsors — two from the US and one from the Middle East — were announced in the hours before the game opened: YouTube, Visit Las Vegas and Fine Hygienic Holding, all in the third category of regional sponsors.

Late arrivals to round out the World Cup’s sponsor list helped boost FIFA’s four-year revenue to more than $1 billion ahead of the previous commercial cycle related to the 2018 World Cup in Russia.

The figures were announced on Sunday at a closed-door meeting of more than 200 FIFA member federations, whose cash subsidies from the Swiss soccer body have risen sharply since the election of Gianni Infantino in 2016.

Additional revenue was bolstered by commercial deals with state-owned companies in the gas-rich World Cup host nation. Qatar Energy has joined as a title sponsor, while new third-tier sponsors include Qatari bank QNB and telecommunications company Ooredoo.

FIFA also added tier two sponsorship deals this year financial platform crypto.com and a blockchain provider marking his first new American sponsor in more than a decade.

Key deals to broadcast this year’s World Cup were signed during Sepp Blatter’s presidency in two-tournament deals that included tournaments in Russia and Qatar. These included deals with Fox in the United States and Qatari broadcaster BeIN Sports, which were struck in 2011.

FIFA’s reserves will rise to around $2.5 billion despite the COVID-19 pandemic. FIFA was prepared to use the money to help members navigate the uncertainty of 2020, when national football matches and World Cup qualifiers have been almost completely halted.

Revenue is likely to approach $10 billion over the next four years thanks to a new financial strategy for women’s soccer and an expanded 2026 World Cup in the United States, Canada and Mexico.

Separate sponsorship deals for women’s football are being signed for the 2023 World Cup in Australia and New Zealand.

The 2026 men’s tournament will feature 48 teams instead of 32.

FIFA has an almost clean slate for the 2026 edition with main sponsors Coca-Cola, Adidas and Wanda the only deals currently extended.

FIFA pledged to give member federations more money when they met in Qatar in March, pledging that their base grant from Zurich would rise by 33% to $8 million in total from 2023-27.

On election day in 2016, Infantino promised voters: “This is your money, not FIFA’s money.”