What a Biennial FIFA World Cup means For Nigeria, Others
Nigeria will receive around $16 million in a four-year cycle if the FIFA biennial World Cup plans come to fruition.
The Nigeria football federations’ desire for financial autonomy will receive a boost with the new incentives.
Nigeria federation is struggling with payment of coaches salaries and allowances for players, a problem the extra funds can fix.
Two independent reports commissioned by FIFA to assess the feasibility of organising men’s and women’s World Cups every two years reveals that this change would bring significant economic benefits for African countries and the world both on a socio-economic and on a football level.
The funds, in addition to the FIFA Forward programme investment, will consist of a fixed $9 million per four-year cycle.
Independent reports show that biennial World Cups would bring significant economic benefits to Nigeria and the world.
Overall, each FIFA member association could receive approximately $6million per year if FIFA’s biennial men’s World Cup plan scale through.
FIFA Biennial men’s World Cup plan Breakdown
Organising a men’s FIFA World Cup every two years would lead to gross domestic product (GDP) gains of over USD 180 billion over a 16-year period.
Furthermore, the GDP gains will generate two million additional full-time jobs worldwide.
A significant part of the job gains will have an impact on developing countries, like Nigeria and Africa.
The report states that a biennial FIFA World Cup would mean an uplift of USD 4.4 billion in FIFA revenues.
The figure is a big lift from $7 billion to $11.4 billion in media rights, sponsorships and gate receipts.
FIFA at a global summit on Monday reveals that the new revenues streams will go through a solidarity fund channel to member associations.
This USD 3.5 billion funds will be for football development projects.
The development project is under the technical leadership of FIFA Chief Football Development Officer Arsène Wenger.
The former Arsenal coach, Arsène Wenger explains the advantage of having more frequent competitions.
“Competitions are vital because they generate an opportunity to compete, improve and to measure progress, but education is equally important,”. “Without good coaches and good development programmes, the gap in these competitions will become bigger. This is a trend that is well documented and it’s our duty and ambition to help to bridge that gap. We will share know-how and expertise with everybody by going into the countries and through this online training centre.”
How The FIFA Biennial World Cup WIll Help Nigeria, Africa
The increase of worldwide distribution of FIFA funds would significantly contribute to reducing revenue gap between the most and least developed countries.
Although UEFA, European leagues and clubs have been saying they will lose a lot of money, the reports show that historical revenue trends of the most relevant clubs and national teams have no relation.
Revenues generated by the top five European leagues and the UEFA Champions league consistently increase year-on-year, regardless of major national team tournaments.
The tournaments namely World Cups and, for instance, EUROs overlapping.
Historical trajectories show no negative correlation between revenues generated by national team final tournaments and leagues.
Moreover, empirical data collected for the last decade shows a correlation between revenue growth and seasons featuring a major championship.
On aggregate, the percentage revenue growth of the top five European leagues was actually higher in seasons with a major national team tournament versus seasons without such tournaments.