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Australia promise World Cup revenue

A poor revenue report will not ruin Australia’s chances of hosting the 2022 World Cup, according to bid organisers.

A report analysing the revenue streams of each of the five bids by management consultants McKinsey gave Australia a 68 percent rating, the lowest of any of the bids.

The ranking was lower than a 100 percent evaluation for the United States, followed by Japan with 73 percent, South Korea’s 71 percent and Qatar’s 70 percent.

But Australian bid chairman Frank Lowy was quick to point out that the report was not the only factor in deciding who would host the event, while adding that a World Cup in his country has massive revenue potential.

“McKinsey are not voting,” Lowy said. “They are not the decisive factor.”

“We have a study we have produced and it does paint a different picture. It would be very profitable for FIFA to award the World Cup to Australia.”

“If you look at the growth of Asia, Japan, China, India in the last 10 years, what will happen in the next 10 years is unbelievably great in numbers of people, wealth creation, spendable dollars.”

“Those things are overwhelming, whatever McKinsey might say.”

The Australian bid team will make their final presentation to FIFA’s executive committee on Wednesday, but Lowy stressed that the presentation alone would not get their bid over the line.

“There are many deciding factors, but I think we have a credible, good, top bid, very seriously done,” Lowy said.

“When you build a house, do you say that the bricks are more important than the roof or the foundation is more important than the bricks? Our presentation is important but it is not the only factor.”

Tue 30 Nov, 2010
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