By Amaka Akachukwu
Whoever said football business isn’t good business? FIFA has increased the prize money of next year’s World Cup to N95billion.
The world governing football body FIFA announced that the winners of next year’s World Cup competition will receive $35m as part of the $576m prize money up for grabs in Brazil.
An offer of $420m was made at the 2010 finals in South Africa; and that prize has doubled by 37%.
The runners-up will take home $25m, while third-placed side taking home $22m and the fourth-placed side will receive $20m.
The four teams to be knocked out in the quarter- finals will receive $14m each, while teams in the last 16 will receive $9m and teams knocked out in the first round will leave with $8m.
FIFA secretary General Jerome Valcke said ‘There will also be awards of $70m for the clubs whose players are taking part in the World Cup, and in addition to that, $20m will be given as a legacy to Brazilian football.
‘We will not wait for the start of the World Cup for that, those payments will start immediately and will rise to $100m in the future’.
Secretary Valcke confirmed that the legacy money will be spent on the grassroots game in Brazil as well as education and health projects linked to football in the country.