Exclusive-US broker touts huge returns for FIFA World Cup ticket investors

NEW YORK, Feb 24 : A Miami-based ticket broker offered investors 50 per cent returns over six months through a plan to resell FIFA World Cup tickets at steep markups, even as angry fans say "extortionate" prices are shutting them out of the world's most-watched sporting event.

TicketKings, which was founded in 2019 and says on its website that its goal is to "democratize access to live entertainment," sought $5.5 million to buy 8,000 World Cup tickets for matches involving England, Brazil and Scotland, among others, and offered returns as high as 87 per cent, according to a pitch deck from the company that was reviewed by Reuters.

In the proposal, TicketKings warned that the tickets could be cancelled by a "FIFA invalidation or enforcement actions," though the firm said it takes steps to mitigate these risks.

The investment proposal, which has not been previously reported, surfaced as global soccer fans vent their anger over ticket prices for the June 11-July 19 tournament in the U.S., Canada and Mexico. Prices already are the highest in the World Cup's history. 

"A premium investment opportunity capitalizing on the world's most watched sporting event through strategic ticket acquisition and resale," the TicketKings pitch deck states. "Our World Cup ticket fund will invest in 33 matches, carefully selected for their market demand and projected returns." 

TicketKings did not respond to requests for comment. Reuters could not determine whether any investors backed TicketKings' offer.

In response to questions from Reuters, a FIFA spokesperson said the organization was not aware of TicketKings' investor proposal. The spokesperson added that reselling thousands of tickets to generate investor returns would violate the soccer