We look at the history of the most desired trophy in the world, and speculate on its insurance value.
It’s the world’s most financially important sporting event, attracting advertisers, sponsorship deals and a huge television audience. According to FIFA, over 28.8 billion viewers from 213 countries watched the World Cup in 2002, making it the most watched event in television history.
And at the end of it all the winning team gets to hold a 36cm, 18 carat gold trophy high above their heads. As one of the most recognisable trophies in sport, the cup has been stolen twice, once in Brazil and once in England, where it was famously found by a dog named Pickles.
But insurance for such a trophy is not a simple matter. FIFA press spokesman Andreas Herren says “Like every part of the tournament, the insurance for the trophy is important and it is covered. However the cost of the trophy is really immeasurable.”
FIFA will not comment on the specifics of the cover, but Daniel Smith, director with broker Aon’s Specie and Fine Art Division, explains that London would have a significant role to play in the coverage. “Lloyd’s and London remain the home of these specialist risks,” he says.
According to Smith, the insurance for the World Cup, like many other global sporting trophies, is complex because its value could far exceed the simple replacement cost.
“While the cost of a replacement for the trophy can be insured, an additional sum may be insured that is offered as a reward for its safe return and the conviction of those who had taken it” he says.
At the end of each tournament, the winning team does not take the top trophy home. It remains with FIFA, while the winners get a gold-plated replica to keep.
Smith says that if England were to win the trophy, the replica may well need to be covered for more than the original itself, so intense is the nation’s love of the beautiful game. “England is so passionate about football and, should the team win it, the value of the English trophy would be far more than that of another nation where the sport does not have such a high profile,” he says.
But what’s the real trophy actually worth?
According to Heath Lambert, a Lloyd’s broker with experts in the sports field, it’s not as much as you might think.
Charles Meaden, Director of Heath Lambert’s sports, leisure and entertainment division, says: “The trophy would probably be insured for its replacement value, rather than its value to a collector. It is a fairly simple sum. The cost of the 18ct gold - roughly 75% pure - multiplied by the cost of gold at the time, and then add on the manufacture or sculpting costs, and you have a new World Cup.”
So, calculators out - Heath Lambert says that a new World Cup trophy could be yours for the bargain price of about £41,764 plus design and labour. So start saving and get the mantelpiece ready.
Trophy history
The current FIFA World Cup trophy was commissioned by the sport’s governing body for the 1974 competition after the original Jules Rimet Trophy was awarded to Brazil for winning their third world title four years previously.
The trophy was designed by Italian, Silvio Gazzaniga, and is made of solid 18 carat gold weighing 4,970 grams, with a base containing two layers of semi-precious malachite. On its base there are 17 plaques which will hold the names of the winning teams, and enough room to see the trophy last until the end of the tournament in 2038.
