The 32 teams set to play in this month’s World Cup in Russia will compete for more than just national bragging rights.
FIFA, soccer’s international organizing body, will award a total of $400 million in prizes to the various national teams based on their performance. Each team is guaranteed to receive at least $8 million, even if they are eliminated after the tournament’s opening group stage.
Teams eliminated from the last 16 will receive $12 million. Quarterfinalists will receive $16 million, followed by $22 million for the fourth place team, $24 million for the third place team and $28 million for the nation that finishes as runner-up.
The championship country will earn a $38 million share of the prize pool, up from the $35 million that Germany received for winning the 2014 World Cup in Brazil. The overall prize pool of $400 million increased from $358 million four years ago.
The World Cup’s prize pool is a minor expense for FIFA, which is expected to earn more than $6 billion for the four-year cycle that includes this year’s global tournament. The organization is projected to net $100 million in profit over the same period.
FIFA’s revenue is largely derived from its deals with various corporate sponsors and lucrative television rights deals. The Switzerland-based body has mostly recovered from a corruption scandal that marred several of its top officials and forced the removal of FIFA’s longtime president, Sepp Blatter, in 2015.
The 2018 World Cup will take place across 11 Russian cities from mid-June to mid-July. Play is set to begin on Friday.