In short: The subject — a private non-profit (no ticker). Expects ~$13B across the 2023–2026 cycle (+72% vs Qatar's $7.6B): TV 40%, Hospitality & Ticketing 28%, Sponsorship 25%, Licensing 3%. Increasingly a "portfolio of scarce global sports rights" (men's + Club + Women's World Cups), not a one-event business. Reserve ~$2.7B.
FIFA is the non-profit that owns and runs the men's soccer World Cup. Because it's a non-profit, the goal isn't to bank a fat yearly profit — it's to roughly break even across each four-year cycle: it loses money in the three years between tournaments, then the World Cup year (worth about $9 billion on its own) pays for everything.
The money comes from four taps: selling TV rights region by region (the biggest, ~40%), tickets and fancy hospitality packages (~28%), sponsorships where brands like Coca-Cola, Visa and Adidas pay to slap their name on the event (~25%), and licensing of merchandise and video games (~3%). This 2023–2026 cycle is the richest ever — about $13 billion, up 72% — because the tournament grew to 48 teams (more games to sell), landed in the US (the most valuable media market), and added a second US event (the Club World Cup). The eye-popping detail is tickets: 2026 is the first World Cup with airline-style "dynamic" pricing, so the average seat runs around $1,300 (versus $25–$475 back in 1994) and final-match premium seats blew past $32,000 — which is why attorneys general are now subpoenaing FIFA over the prices. The longer story is that FIFA is deliberately turning itself from a once-every-four-years business into a year-round portfolio of scarce global sports rights.
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