Just found an interesting visualization of the FIFA business model:

5 reasons why FIFA’s business model works best:
1. Virtually all revenue going to the World Cup FIFA with some kick back to the hosting country
2. Sponsors pay big bucks for the brand and the World Cup / European Championship to be associated
3. Raw materials (the players at the World Cup) are relatively cheap
4. Countries are eager for the tournament to take on and invest
5. FIFA in turn invests little money in the hosting country

Source: http://businessmodelsinc.com/2010/06/16/fifa-business-model-visualized/