FIFA Club World Cup could cost Manchester City and Chelsea MILLIONS in tax to US Government

New analysis by AskGamblers has revealed Manchester City and Chelsea could face a multi-million-pound tax bill for participating in the FIFA Club World Cup.

The inaugural 32-team tournament begins on the 14th June, but with the majority of competing clubs not having tax agreements with the US Government, clubs could be faced with a tax bill approaching £30 million.

AskGamblers analysis of the published competition prize money alongside the general 30 per cent federal tax rate applied by the US Government has found that Manchester City or Chelsea could have a bill of £26,120,250 if they win the Club World Cup this summer.

The winner of the tournament is set to pocket a staggering £82.3 million in prize money from stage-by-stage progression, with finalists earning £16.8 million, and semi-finalists getting £9.7 million.

A single group stage victory will, however, cost clubs £468,000 in tax, and a draw £234,000.

FIFA’s lucrative billion-dollar offering for the Club World Cup could cost teams a combined total of £222,300,000 in tax this summer, AskGamblers analysis has found. 

Clubs face an additional tax bill from money earned from Group Stage victories and draws, as well as from the pre-tournament $425 million participation pot, with the amount earned by each of the 32 teams based on FIFA’s ranking system.