FIFA World Cup 2018: Global governing body hikes prize money for mega event to $400 million

The FIFA Council that met in Kolkata on Wednesday announced the prize money for 2018 FIFA World to be held in Russia. The council also decided on a few important elements related to the future of football’s showpiece competition. [caption id=“attachment_3959491” align=“alignleft” width=“380”]  Representational image. Reuters[/caption] FIFA’s strategic body approved an increase in the prize money for the 2018 edition to a total amount of $400 million — 12 percent up from the $358 million of the 2014 edition. FIFA President Gianni Infantino felt the teams that work so hard to compete at such a high level must be “rewarded” for their endeavours as he revealed the increased figure of the prize money. The enhanced Bidding Regulations for the 2026 FIFA World Cup that were approved by the Bureau of the Council of 6 Septermber 2017 was ratified by the council, which also appointed the members of the Bid Evaluation Task Force. According to the Bidding Regulations, the Task Force must be composed of the chairpersons of the Audit & Compliance Committee and the Governance Committee — in this case, Tomaž Vesel and Mukul Mudgal respectively — as well as a member of the Organising Committee for Competitions (Ilčo Gjorgioski was appointed), together with experts from the administration: Deputy Secretaries General Zvonimir Boban (football) and Marco Villiger (administration). Apart from the matter relating to the World Cup, the FIFA Council gave a green signal for the establishment of the FIFA Foundation, proposed a consultation phase to review FIFA’s women’s, youth and club tournaments.