FIFA increases World Cup prize money

FIFA, the world football governing body, has announced new prize money for the 2014 World Cup and hosts of future age-group events.fifa

It said in a statement, following its executive committee meeting on Thursday, that there would be new prize money of $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 will receive $35 million, followed by $25 million for the runners-up.

There will be $22 million and $20 million for the third-placed and fourth-placed teams and $14 million 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 a year earlier.

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 will 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 will play its first match against Iran in the group match.

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