FIFA nears $1 billion deal with apple for global TV rights.

According to the New York Times, FIFA is on the brink of finalizing an agreement with tech giant Apple, granting them worldwide television rights for a new month-long club tournament.

The deal, estimated at approximately $1 billion, is expected to be announced later this month. This figure is significantly lower than FIFA’s initial projection of $4 billion. The potential partnership is seen as a strategic move by Apple to bolster its streaming business amidst intensifying competition in the sports broadcasting arena.

If the deal materializes, it would mark the first instance of FIFA entering into a single worldwide contract. However, concerns have been raised within FIFA regarding the implications of “free-to-air rights,” potentially limiting access to the event exclusively to Apple TV+ subscribers.

Sponsorship commitments, which FIFA is seeking at $150 million, have encountered reluctance from potential sponsors, according to the report.

The tournament, featuring 32 teams, is scheduled for June 15 to July 13 next year. This timing typically allows players a rest period in the off-season, a year ahead of the World Cup.

FIFA has faced criticism from players unions for not consulting them prior to announcing details about the event.

Throughout much of 2023 and early 2024, investors in leading tech stocks, including the Magnificent 7, experienced substantial gains.

In response to Reuters’ inquiry, a FIFA spokesperson stated that the organization neither confirms nor denies commercial discussions. Apple declined to provide a comment on the matter.