Friday 13, April 2018 ww.businessdayonline.com facebook.com/businessdayonline @businessDayNG C002D5556 BUSINESS DAY 3 FIFA INCREASES 2018 WORLD CUP OFFERINGS TO $400M The winning team for this year’s World Cup in Russia will be awarded a record $38m (£29m) in prize money, after world football governing body FIFA boosted its financial offering to record levels. A total prize money pool of $400m represents a 12 per cent increase on the $358m paid out to teams at the 2014 World Cup in Brazil, where victors Germany received $35m. The money is paid to a nation’s football association, who will have negotiated their own financial agreements with their players. FIFA president Gianni Infantino said the prize money increase represented “a positive sign in terms of the healthy financial situation of FIFA “, despite the organisation’s $369m loss in 2016. Each competing team will be paid $1.5m to cover preparation costs. Each of the 32 participating teams will be guaranteed a participation fee of $8m. Progressing through to the first knockout stage boosts the prize to $9m while a quarterfinal finish is worth $14m. In the much-derided third place play-off, $42m is shared between the two sides with the victor taking home $22m. Runners-up in the final can console themselves with a $25m prize as the winners enjoy their $38m. The final round of qualifying for the tournament takes place next month but 22 of the 32 competing nations have been confirmed, while some big names such as the USA and Holland have already failed to make the cut. FIFA WORLD CUP BRAND VALUE FROM 2012 TO 2017 The statistic shows the brand value of the FIFA World Cup from 2012 to 2017. The FIFA World Cup had a brand value of 229 million U.S. dollars in 2017. 300 Brand value of the FIFA World Cup from 2012- 2017 (in million US dollars)* FIFA 2002 TO 2014 WORLD CUP PRIZE MONEY This statistic shows the prize money awarded to the winner of the FIFA World Cup from 2002 to 2014. The winner of the 2014 World Cup was given 35 million in prize money. 250 Brand value in million US dollars 200 150 100 50 0 2012 2013 2014 2015 2016 2017 Source: Forbes @Statista 2018 Additional information: Worldwide: Forbes: 2012 - 2017
4 Friday 13, April 2018 ww.businessdayonline.com facebook.com/businessdayonline @businessDayNG C002D5556 BUSINESS DAY EAGLES BRAND SOARS ON BACK OF INVESTOR CONFIDENCE … Aiteo, Nigerian Breweries, Wapic, Coca Cola top list of investors ANALYSIS Since Nigeria qualified for this year’s FIFA World Cup in Russia, Nigerian football has seen a significant progress owing to more partnership from corporate investors. The coast looks clear for Nigeria at the FIFA World Cup in, as Nigeria Football Federation (NFF) is more motivated than ever. The Federation led by Amaju Melvin Pinnick has steps up its bid to attract formidable investors into Nigerian football, Super Eagles. No doubt, the Super Eagles have improved tremendously in their performance and have restored the confidence of esteemed Nigerian fans and attracted corporate attention that have shown interest to drive the nation’s senior soccer team to the next level. For instance, Aiteo Group in 2017 signed a five-year mega sponsorship deal worth N2.5billion with the Nigeria Football Federation (NFF) to boost football development in the country. The deal has helped to alleviate the issues of non-payment of salaries of all national team coaches and bonus and allowances of Super Eagles World Cup qualifications and campaign. The Nigeria Football Federation and Nigerian Breweries Plc on Friday, February 9th signed a five-year contract worth N2.2 billion aimed to support Nigerian football. Jordi Borrut Bel, NB Plc’s Managing Director/CEO pledged the total commitment of their establishments to every letter of the contract. Bel reiterated: “We are indeed delighted about this partnership between Nigerian Breweries plc and the Nigeria Football Federation (NFF). This relationship provides us an opportunity to celebrate the true Nigerian spirit that is fuelled by patriotism, passion and desire for victory, through the platform of Football.” NB Plc set to commit the sum of N450million to the relationship every year. Itemuagbor, a sports marketing titan who had brokered several relationships for Nigerian Football over the decades, said: “The important thing is not just the amount of money being paid as rights fee; it is the activation of the contract, which Nigerians Breweries and ourselves as the Sponsorship Agency are committed to doing in a big way.” Amaju Pinnick, president, Nigeria Football Federation (NFF), mentioned that the potential in Nigerian sports is limitless, adding, however, that the government needs to create enabling environment for sports industry to thrive. “Twenty-five years ago, the British government invested £200 million in the Premier League and today, the EPL is worth £8 billion. If we create enabling environment with proper structure, sports can contribute significantly to Nigeria’s GDP more than any other sector,” said Pinnick. “We must engage reputable brands to drive sponsorship for the national team. If every geopolitical zone concentrates on its strengths and harness them properly, Nigeria will fly the flags high at international competitions and thus get global attention for investors to come in and invest,” he added. The collaboration between AITEO and NFF is the latest in a series of partnerships that have delivered superior quality of football in Nigeria. So far, AITEO has paid the sum of $600,000 and N320 million to cover its contractual obligation of providing support to the technical crew of the Super Eagles for the whole of 2018, well beyond the World Cup. FIFA President Gianni Infantino, said, “I was told that in Nigeria football is passion, but it is a lie because it is more than that. In Nigeria I was told that football is love, but it is a lie it is more than that. In Nigeria, football is life.” The Nigeria Football Federation and WAPIC Insurance plc recently signed an agreement worth N500million that conferred on the insurance giant the title of ‘Official Insurance Services Provider and Co-Sponsor of the NFF.’ The contract provides excellent safety and security for National Team players and officials while on duty and offer a well –paved route for them to have a better future through proper pension fund. Yinka Adekoya, Managing Director, WAPIC Insurance plc, affirmed that the company was excited to team up with Nigerian Football, given the huge role that football plays in nation –building and the excitement that it generates among the youth and adults alike. “The NFF is an organization that is making Nigeria proud through the excellent results of the National Teams and WAPIC is a top financial institution seeking to be the most enjoyable company to do business with and to become a top 20 financial services institution in Nigeria by 2019.” The agreement came only 48 hours after beverage behemoth Coca-Cola signed up as ‘Official Soft Drink and Co-Sponsor of the Nigeria National Teams,’ and Shehu Dikko, who is also NFF’s Strategy Committee head, confirmed to NFF hat more partnership agreements are on the way in the coming weeks. The move is gradually revamping the nations’ sports industry. It is about initiatives likely to impact not just a small crop of people, but also the generality of the populace. After all, football is one sport that unites us as a nation despite our tribal differences.