Soccer Business Bits: Insuring the World Cup, Chuck Blazer & More

Since we are based in the fair city of Hartford, CT, we thought  we would start with a bit of insurance news.  According to this piece from the Hartford Courant, the World Cup is insured for just under $9 Billion Dollars.  The insurance covers things like property damage and liability coverage.  The coverage will likely include everything from a stadium collapse to insuries suffered by an errant ball into the crowd.  Contingencies for events that cause a lost of broadcast revenue, destruction of property and other items are also likely included.  Given the concerns about South Africa (made real by the recent injuries suffered in a stampede at a Friendly venue), premiums are likely significantly higher than they would be in a European venue. 

The Sports Business Journal hits the World Cup hard this week, starting with a feature on Chuck Blazer, the bearded FIFA executive is known in American soccer circles for steering FIFIA rights to ESPN for the benefit of MLS thanks to a shared deal.  The article is a great read about the rise of Mr. Blazer to the top of the soccer business world and describes his use of power on behalf of American and CONCACAF interests.  The article also discusses Blazer’s efforts to bring a second World Cup to the United States.  While the US hosted in 1994, the money and stadiums available in the US make for an attractive option for the 2018 or 2022 tournament. 

One final note from the SBJ about the four team tournament coming to Red Bull Arena after the World Cup.  The Leverage agency is projecting just under 400k viewers for the “World Series of Football” that includes teams such as Man. City, Sporting, Tottenham and the Red Bulls.