Tuesday 29 November 2022

What’s the pay off for Costa Rica if it becomes world champion in Qatar?

Paying the bills

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29 November 2022 - At The Banks - BCCR

Paying the bills

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QCOSTARICA – The Federación Costarricense de Fútbol (Fedefútbol) –  Costa Rican Soccer Federation – already has US$10.5 million assured for participating in the World Cup 2022 in Qatar, although this amount will increase with each phase that La Sele, Costa Rica’s national men’s soccer team, progresses.

Costa Rica’s national soccer team, La Sele, arriving in Qatar

In total, FIFA will award US$440 million in total prize money, an absolute record for a World Cup,  in contrast to the US$400 million in Russia 2018 and US$358 million in the Brazil 2014 games. The mark is an absolute record for a World Cup.

The teams that reach the round of 16 will get US$13 million, in the quarterfinals US$17 million, fourth place US$25 million, third place US$27 million, runner-up US$30 million, and the winner US$42 million.

The plane carrying La Sele from Kuwait to Qatar was manned by a Costa Rican crew, making it the real plane of the Ticos, a very Pura Vida
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In other words, if the Sele achieves the goal set by the team, Fedefútbol would fill its coffers with $42 million.

At the very least, Fedefutbol will take home US$9 million, the same piece of the prize money paid to each of the 32 teams – even those who finish in the bottom half, in addition to the advance of US$1.5 million to cover expenses.

According to Bloomberglaw.com, money flows from ticket sales and other sources like television broadcasting, marketing, hospitality, and licensing rights. The money that trickles down to players can vary from country to country.

In most cases, it goes back to FIFA, which is organized as a not-for-profit association under Swiss law. However, FIFA notes that all profits generated by FIFA globally “remain subject to the ordinary taxation regime for associations in Switzerland.”

 

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