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Midas
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Midas
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And Donald Trump's catastrophic war in Iran and his wars around the world have caused a massive boycott of FIFA. Tourism is down in the United States after Donald Trump's ice and border patrol gestapo continued to kill people, kidnap people, throw people in concentration camps, ban people, threaten people here in the United States. Absolutely. Desp. And also the affordability crisis in the United States, by the way, also in Mexico and in Canada because of FIFA just overpricing everything. And FIFA trying to overplay its hand and to really just kind of impose its will on these other host nations. I made it inaccessible to most people. Also, there's a broadcasting rights issue. Gianni Infantino and FIFA and Trump, I mean, they were so arrogant, they were so cocky that they were trying to force massive licensing fees on some of the biggest consumers of soccer or international football. Like India and China still have not made a deal with FIFA for broadcasting rights, because the China and India JVs with the United States companies in order for the kind of broadcasting rights, they're not paying gianni Infantino the $100 million that he wants to license FIFA. So in the two biggest markets, basically, that consume soccer or football, they don't even the ability to show the FIFA World cup on tv. This is what happens when you have Infantino and Donald Trump focused on giving Donald Trump FIFA peace prizes, and Infantino, you know, doing his whole corrupt dance with Donald Trump around the world and not just focusing on, I don't know, being competent and just running a good tournament and uniting people with football and soccer, bringing people together. I mean, if you look at some of the, you know, the key tourism stats, lots of cities aren't even seeing a bump at all. They're actually seeing declines when FIFA's coming to their cities. You're seeing lots of people feeling defrauded by the FIFA ticket packages. They're like, we've spent thousands of dollars and now we're learning. You basically gave us nosebleed seats. We thought we were getting good seats. I mean, FIFA's really running a racket here. Can I break it down for you bit by bit, piece by piece right now? So. Well, let's start with this. That less than a year ago, the FIFA president, Gianni Infantino, made a promise. He promised an economic Boon equal to 104 Super Bowls. But that was not true when it was said, and it's not going to come true now, as Forbes reports. So what? The guy promised 104 Super Bowls. You just have to trust us. Trust, trust me, right? As Donald Trump would say. But now nearly 80% of US hotel owners in 11 World cup host cities say bookings are tracking below original forecast and in many cases below what it would be if there was no FIFA at all. Tourism has been down dramatically in the US year over year because Canada started this powerful boycott against the US and the rest of the world followed. And you look at all of the threats that the US imposes on people here in the United States and immigrants, people don't want to to the United States. And lots of people are describing the tournament right now as a non event. Just think about that. 80% of people who own hotels in 11 World cup host city say bookings are tracking below original forecast with some describing the tournament as a non event, according to an American Hotel and Lodging association survey of members released Monday. So Infantino promised 104 Super Bowls. That's what this would be. Now it's not even one Super Bowl. It's a non event. It's like if the circus came to town or if like Disney on Ice came to town. By the way, I love Disney on Ice and taking my little daughter there, I was 19 months old. That would be an event. You know, it boosts tourism. People are saying FIFA is a non event. Let's take a look and dig through more of the facts here together. So US Hotels are saying the World cup is a non event. So far, FIFA hyped the World cup as an economic juggernaut for the US but with five weeks weeks until the tournament kicks off, the hotel industry says advanced bookings in some host cities are on par or lagging an ordinary summer lagging an ordinary summer with no FIFA. Nearly 80% of hotel owners in 11 World cup host cities say bookings are tracking below original forecasts with some describing the tournament as a non event. According to the ahla, the American Hotel and Lodging association and the recent survey they just did, only a quarter of AHLA respondents are seeing any incremental lift. The US Metros hosting the World cup games will generate some GDP growth this summer concentrated in leisure and hospitality, but those will not have a material impact on overall job and economic gains this year, according to a report released by Oxford Economics. No material gain in an economic boost from the World Cup. And it goes on to say while the US Is expected to see an economic upside to hosting the World cup, it's clear that the demand for the tournament will fall will fall well short of the 104 Super Bowls promised last year by FIFA's president, Gianni Infantino. It was not true when it was said and it's not going to come true now, says Jan Freitag, national director of hospitality and marketing analytics at CoStar, an industry benchmarking firm. She told Forbes a FIFA analysis that projected the World cup would drive 30.5 billion and economic output was predicated on the assumption that millions of international tourists would fly flock to the tournament. Last year, FIFA told tourism officials in World cup host cities to expect a 50:50 split between domestic and international visitors. But roughly 7 in 10 respondents in AHLA surveys say visa barriers and broader geopolitical concerns are significantly suppressing international demand. Let's be very clear, 7 in 10 respondents in this survey are saying, and let's be clear what these factors are. Donald Trump's catastrophic war against the world, the instability caused by Donald Trump and people boycotting the United States make it so international folks don't want to come to the United States. The lack of international inbound is certainly going to hurt the overall economic impact. And the size of this World cup, spanning 16 host cities across three countries, presents many logistical hurdles for international travelers. Roughly 85 to 90% of hotel owners, for example in Kansas City, report that bookings are trailing a typical June or July without any major events. In four host cities Boston, Philadelphia, San Francisco and Seattle, nearly 80% of hotel owners say bookings are behind a typical summer, with many describing the tournament as a non event. In Los Angeles, nearly 65 to 70% of respondents report bookings below expectations, often in line with or lagging behind a typical summer. And in New York, it somewhat tracks with a normal summer with no World Cup. So if there was no World cup, the typical tourism and the typical hotel bookings in these cities, I'm giving you major metropolitan areas Philly, Boston, San Francisco, Seattle, New York would be more than it is right now with FIFA. Like do we all realize what a stunning stat that is? But Gianni Infantino says there may be a a last minute influx. Like a miracle right around the corner. Just you wait and see. There may be a miracle coming, right? Aren't these all just MAGA con artists right here?
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I D A S As I mentioned at the outset as well, there's also this issue with FIFA trying to use its cartel like power over controlling this tournament to force down huge licensing fees in international jurisdictions. So they're basically saying, look, India, for example, if India wants coverage of the World cup, come up with some joint venture and pay FIFA $100 million. And India was like, yeah, no, we're not going to do that. How about $20 million? So there was this JV between an Indian company and Disney. India's Reliance Disney joint venture goes, we'll make a $20 million offer. We don't think the World cup is worth $100 million. And now we're weeks away. And normally you would have a licensing deal I don't know, months ago. But FIFA hasn't made a licensing deal with India. Not only that, it hasn't made a licensing deal with China yet. And China's flexing its muscle and saying, we just don't. We're not going to pay you what you want. Want FIFA, India's flexing its muscle and saying, we're not going to pay you what you're demanding. And these are massive markets, right? There has been no deal announcement for China, which FIFA says accounts for 49.8% of all hours of viewing on digital and social platforms globally during the 2022 World Cup. Let that sink in right here. And so you have that taking place. FIFA also so expensive, like people like in the other host cities. There's not that many games in Mexico and Canada, but take a look at this. Mexico's out of reach World cup tickets cause discontent among Fans. Of the 104 matches in this year's World cup, four will be played in Monterrey, four in Guadalajara, and five in the newly renovated Benorte Stadium in Mexico City, including the opening match between between Mexico and South Africa. When FIFA released a second round of tickets in April, prices for the first game in Mexico on June 11 range from $3,000 to $10,000. The sky high ticket costs are unaffordable for most Mexicans who basically earn an average monthly income of about $1,000. And when people are saying this, it doesn't feel the same as the previous two World Cups. This World cup basically belongs to the United States. It doesn't feel Mexican. That's how it feels to me, because even ticket prices, prices are out of reach for everyone. So where this is supposed to be a celebration of, was supposed to be a celebration of Canada, the United States, Mexico. Right. The people who are part of the USMCA or the Canada, Mexico, US Agreement. Donald Trump, like, wants to make this about him. And the ticket prices are just completely out of control right now as well. And you know, we're seeing this as well. FIFA ramps up efforts to sell luxury World cup hospitality tickets Tickets after what they're calling a revenue reevaluation. And so FIFA is upping efforts to sell luxury hospitality tickets for the World cup with packages still available for 102 of the 104 matches at the expanded tournament. Mexico's Group A against South Korea and one last 32 fixture expected to feature Spain are the only matches showing a lack of availability on FIFA's hospitality platform. And a new charity, a new category of suite essentials, has been added to lower profile games, allowing customers to buy an individual ticket for a suite that would previously have been sold to a group. The Guardian understands the intensified activity follows a downward reevaluation by FIFA and its partner on location of the revenue expected from most lucrative ticket categories. So these luxury boxes and these luxury experiences in 102 of the 104 games are basically not selling anything. People don't want to spend 20, 10, 15, $30,000 on this. And not only that, but you have FIFA struggling to sell tickets to the first U.S. game when the United States men's national team opens the World cup versus Paraguay. You would think, wow. In the U.S. u.S. Versus Paraguay. Clearly that's going to be sold out you would expect, right? Nope. Ticket Sal for the United States High price World cup opener are lagging behind other matches in Los Angeles, according to a document distributed to local organizers and a variety of other indicators. The document, dated April 10 and shared with hosts to ensure adequate planning, listed 40,934 tickets purchased for that June 12 match between the US and Paraguay, compared with 50,000 for the Iran New Zealand match three days later. Let me repeat. More people are excited to see Iran play New Zealand in the United States than to watch the United States versus Paraguay. But guess what? The stadium's capacity is 69,650 for the World Cup. 69,650 seats only 40,934 seats sold for that first game with US versus Paraguay. 50,661 sold for Iran versus New Zealand. This is the World Cup. It's like saying the Super 104 Super Bowls, yet there's what, over 10, 20% of the there's going to be empty seats or they're going to lower, they're going to have to lower the prices. And then you have this article from the LA Times Fans vent frustration over high World cup ticket prices for worse seats and it says it talks about the story Aaron Levinson wanted to go to a World cup game this summer, but he didn't want to take out a second mortgage to pay for that. So after winning a chance to spend $560 for individual tickets and a FIFA lottery last fall, Levinson backed out. Then he backed in again this spring. Maybe the sticker shock kind of started wearing off. I got caught up in the excitement. So Levinson decided to pluck down $850 for two Category 3 tickets, among the cheapest available for he and his wife to go to the final Group US Group play game at Sofi Stadium in June. When his wife reminded him that his two sons would be visiting, he bought two more tickets, bringing his investment to $1,700, more than double the price of a seven day cruise. And it goes on to say, and that doesn't include the nearly $250 for parking. That's really steep, said Levinson, a Galaxy season ticket holder for more than a decade. But when are we going to get to go to another World Cup? This was special. Until it wasn't. Levinson bought the tickets without knowing where the seats would be, but when he saw a color coded seat map of sofi. It showed category three sections were in corners of the top deck, far closer to the stadium's translucent roof than the playing field. Maybe the cruise would have been a better idea after all. I don't know if disappointed is the right word. It's just bizarre. I like to sit in a certain spot. I like the silent. I don't want to be behind the goal. I just feel like for the price I paid, at least I can know where the seats are going to be. And he's hardly the only person unhappy with their experience buying tickets for this World Cup. That may explain why tickets reportedly remain available available for more than a third of the 72 group stage games. And many of the expensive hospitality packages also remain unsold. And that is raising worries FIFA may have priced the World cup so beyond the reach of many fans that some matches will be played before empty seats, despite the fact that FIFA president Gianni Infantino told cnbc that all 104 games were sold out. FIFA later clarified that statement, saying Infantino meant to say that he expected the games would sell out. Either way, concerns about empty seats may be overblown, since the fourth and final phase of ticket sales don't begin until April 1st. And the tournament organizers are confident demand will match inventory. Although now we know in May that that is not the case. And of course, we know with the boycott, the regional instability, Trump's catastrophic war against the world, Donald Trump's tariffs against the world, that we're seeing, the massive retaliation and backlash. Few other points I want to point out. Obviously, you know about Infantino giving Donald Trump the fake FIFA peace prize. Like, that's what they were focused on versus selling tickets. I mean, you remember this weird moment. Play this clip.
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This is your peace prize.
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Midas
There is also a beautiful medal for you that you can wear everywhere you
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Sponsor Announcer
want to go
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Midas
right now. Okay, let me hold.
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Sponsor Announcer
Fantastic. Excellent.
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Midas
And then there was this moment where Infantino tried to, like, he, like, called up the head of the Palestinian Football association and the Israel Football association. And then in front of everybody, he tried to, like, forced the Palestinian Football association person to shake the hands of the Israeli Football association. And, like, he wanted to, like, capture this on camera and act like he was bringing, like, world peace. And then the Palestinian Football association, like, why? What do you want me to do? Like, what. What's this about? Like, that, like, you. You expect me to. You expect me to do that? Like, while they're, like, while they're destroying Gaza, like, that's what you expect me to do. And the whole thing was strange. I mean, did you, do you remember this? Here, play this.
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This.
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I mean, so you know, it's, it's, this is what FIFA has become. We already knew it was a corrupt organization and we just want to want people to play football, play soccer, watch the game. But with Trump and Infantino, they make it so weird. And now the international boycott hit. Subscribe. Let's get to 7 million. Thanks for watching, everybody. Thanks for watching. Be sure to add the Midas Touch podcast on Apple Podcasts, Spotify or wherever
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Midas
Off.
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