NYT: Bargaining for Rights in Exchange for NHL in Olympics (UPD: Daly in Sochi)
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03-06-2013, 12:06 PM
Join Date: Apr 2011
“FIFA is quick to point out that its profits from the World Cup go towards funding its many other activities over the four-year cycle between World Cups, including less lucrative competitions such as junior and women's World Cups and the quadrennial Confederations Cup between continental national teams champions.”
These tournaments tend to make losses, which are only covered by the profits from FIFA’s premier competition. For example, in 2009 alone, FIFA incurred significant expenses for the Confederations Cup in South Africa ($44 million), the U-17 World Cup in Nigeria ($43 million), the Club World Cup in UAE ($30 million) and the U-20 World Cup in Egypt ($21 million).
Not to mention $30 million for women’s competitions the year before.
If we take a look at FIFA’s complete profit and loss account, this is easier to understand. The budget for the four-year cycle leading up to this year has the $3.2 billion revenue from the 2010 World Cup, but the overall profit is only $0.2 billion after deducting costs for all events, football development and operational expenses."
That is how the World Cup needs to be handled in hockey. Not a sham NHL show earning profit on the hopes of a true international hockey.
I for one hope the "KHL/whatever the Russian sport federation" holds up the World Cup of Hockey to force the NHL to share the profits for the true "growth of the game".
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