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    World Cup 2022: FIFA allocates $440M for prize money

    The world’s football governing body, FIFA has set aside $1.696b for this year’s World Cup in Qatar. 

    The organization says it has set aside about $440M or 26% of its WC budget towards prize money, which will be the largest share of the tournament’s allocations.

    The figure represents a 10% increase in the allocation from its 2018 figures.

    The prize money guarantees each of the 32 participants at least  $9m. That means 16 teams that exit the group stage will share $144m of the prize kitty.

    Also 8 teams dropping out in the second round will take home $13m each, totaling $104m.

    Four teams will exit at the quarterfinals level, taking $17m each. 

    The fourth-placed team will earn $25m as the second runners-up pocket $27m. Finally, the tournament’s winning team will get $42M, and the runners-up $30m.Besides those bonuses, they also get $1.5m each for their preparation costs.

    Operational expenses will take the second largest chunk of FIFA’s budget in Qatar 2022. These will account for $324m or 19% of the $1.696billion outlay, FIFA said.

     FIFA also announced that it projects over 5 billion people will watch this year’s tournament. Therefore, it has set aside 15% of the funds for its television audience, which is $247m.

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