Football’s global governing body promises to increase the funding for the tournament to help cover participation costs. FIFA says it is in discussions with national football associations to increase prize money for all 48 teams participating in the World Cup. In response to requests by European teams to increase prize money and to assist with costs associated with their participation this summer in the World Cup, the world governing body is set to fulfil those wishes, it said on Sunday. The proposal must be approved at Tuesday’s FIFA Council meeting, being held before the 76th FIFA Congress in Vancouver, Canada. FIFA announced in December a record World Cup prize fund of $727m, with the winning team taking home $50m and each team receiving at least $10.5m. Since that December announcement, FIFA and national associations have engaged in talks and aim to resolve the issue.…