The beautiful game has an ugly price tag, and the City is watching. FIFA, the global football governing body, is facing a formal investigation into its ticketing practices for the upcoming World Cup. British fans, long accustomed to paying a premium for the privilege of watching their national team, have had enough. The probe, launched by the UK Competition and Markets Authority, will examine whether FIFA has abused its market dominance to inflate prices, effectively pricing out the average supporter.
This is not a story about passion; it is a story about leverage. FIFA controls the supply of a unique asset: World Cup tickets. In economic terms, that gives it pricing power. And it has used it ruthlessly. The cheapest tickets for the group stage are now £150, a 50% increase from the previous tournament. For a family of four, that is a £600 outlay before travel, accommodation, or a single pint of lager. The maths does not work for the average household. This is a classic case of rent-seeking, where the monopoly supplier extracts maximum value from captive demand.
The investigation has sent a tremor through the bond market equivalent of sport. FIFA is not a listed company, but its financial practices have broader implications. The organisation’s revenue stream, heavily dependent on broadcasting rights and corporate sponsorships, relies on maintaining the perception of a level playing field. If the regulator finds evidence of collusion or anti-competitive behaviour, it could trigger a reassessment of FIFA’s risk profile. That might lead to higher borrowing costs for future tournaments, or even a renegotiation of lucrative broadcast deals.
British fans, who have already endured inflation at home, see this as another tax on their leisure time. Real wages in the UK have stagnated for years. The cost of living crisis has squeezed discretionary spending. Yet football, often called the working man’s game, has become a luxury good. The average Premier League ticket now costs £75. A World Cup ticket is double that. This is not supply and demand; it is a wealth transfer from supporters to an organisation that already pockets billions from television rights.
The government is under pressure to act. The Culture Secretary has described the ticket prices as “unacceptable” and called for transparency in FIFA’s allocation process. But there is a deeper issue here: the market for football tickets is not efficient. It is opaque, with tickets often sold through a labyrinth of authorised resellers and hospitality packages. The secondary market adds another layer of opacity, with touts flipping tickets at eye-watering markups. The CMA’s investigation must peel back these layers to reveal the true cost structure.
Capital flight is another concern. If British fans are priced out, they may take their spending elsewhere. Some have already opted for overseas tournaments, where the value proposition is better. Others are turning to domestic lower-league football, which offers a more authentic experience at a fraction of the cost. This is a classic example of substitution: when the price of a good becomes too high, consumers find alternatives. FIFA risks killing the golden goose by squeezing the very fans who make the World Cup the global spectacle it is.
The timing is also awkward. The UK is currently struggling with its own fiscal discipline. Gilt yields have been volatile, and the Bank of England is fighting inflation. The last thing the economy needs is a high-profile case of market abuse that further erodes consumer confidence. Yet here we are. The investigation will be a distraction for FIFA as it prepares for the next World Cup cycle. It may also embolden other consumer groups to challenge the pricing of other major events, from the Olympics to Wimbledon.
In the end, this is about accountability. FIFA’s balance sheet is robust, with reserves of over £1 billion. It can afford to be more generous. The question is whether it has the will. The British fans, who have travelled in their thousands to support the national team, deserve better. They have paid their dues. Now they demand value for money. The regulator must ensure that the market for World Cup tickets functions fairly. If not, the beautiful game will become a game only for the wealthy. And that would be a tragedy for football and for Britain.
