June 11 – July 19, 2026 · USA, Canada & Mexico · 48 teams, 104 matches. The largest World Cup in history
I’ll admit it, I got completely swept up this year. The drama, the heartbreak, that penalty shoot-out that aged all of us by a decade in about ninety seconds. But can I let you in on how my brain actually works? Even while I was shouting at the telly, one quiet part of me was following the money.
Because here’s the thing I can’t switch off and I suspect you won’t be able to either, once you see it. The World Cup stopped being only about football a long time ago. It’s now one of the biggest financial machines on earth, a billion-eyeball marketplace. Here broadcasters, sponsors, host cities and bookmakers all jostle for a slice, under the lovely cover of twenty-two players chasing a ball.
This year it went supersized: three nations, forty-eight teams, sprawling across a whole continent for the first time. Which is roughly the moment a tournament stops being a competition and becomes an economic event with a ball at the centre of it.
What actually happened
- The biggest tournament ever staged 48 teams across the United States, Canada and Mexico, the first time three nations have co-hosted
- 104 matches packed into the summer, ending in a final at MetLife Stadium in New Jersey
- A genuinely global spectacle, a TV audience running into the billions, in nearly every country on earth
Follow the money (my favourite part)
- A modern World Cup throws off billions for football’s governing body broadcast rights, sponsorship, ticketing and merchandise, all feeding the machine
- Host cities poured vast sums into stadiums, security and infrastructure, betting on a tourism and prestige windfall that history says is far from guaranteed
- And a record betting frenzy reportedly billions wagered turned the whole thing into a speculator’s playground
What I take from it
Three things stuck with me, and they travel a long way beyond football:
- The real product isn’t the sport anymore; it’s one of the most valuable media and marketing events on the planet.
- Hosting rarely pays off as cleanly as promised. The costs are concrete and immediate; the benefits are vague and slow. (I keep that in mind every time anyone sells me a “sure thing.”)
- Where there’s a great spectacle, there’s speculation and, as ever, the house usually wins.
The mood, mid-tournament
A whole planet, briefly agreeing to care about the same thing at the same time. I love that, honestly it’s rare, and it’s lovely, and the economists can argue about the balance sheet later.
Feverish, expensive, and gloriously irrational. Three nations, forty-eight teams, and a quiet river of money running beneath every match. Football is the joy; economics is the education. Enjoy both with me; keep your wallet well off the betting app.
This follow-the-money lens is the one I bring to everything. If you’d like it pointed at your portfolio rather than the pitch, that’s what I do in the Intelligence Brief.
Just an investor who can’t watch anything without following the money.
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