Note: Single-source report; awaiting corroboration.

Spain is aiming for its third consecutive World Cup title after victories in Podgorica, Montenegro, and Los Angeles, USA. The team narrowly defeated Greece 16-14 in the previous final, while Hungary claimed bronze against Croatia after a penalty shootout following a 14-14 draw. The current tournament welcomes new contenders, including host Australia, Italy, and Georgia, with Georgia making its debut at this level after success in Division II. Montenegro returns with a younger roster, having finished fifth last year. Serbia and the United States, both former dual champions, did not qualify after finishing outside the top spots in the Division I series.

The tournament schedule features quarterfinals on Thursday, 5th–8th place semifinals on Friday, classification matches on Saturday, and semifinals and medal finals on Sunday. The final matches will be held alongside the women's finals.

Sydney's SOPAC facility holds historical significance for men's water polo, having hosted the first men's FINA World Cup in 1999 and Olympic medal matches in 2000. However, many current players have limited international experience at this venue.

This edition sees Spain missing key players, including retired Felipe Perrone as well as scorers Alvaro Granados and Alberto Munarriz. Greece is without Konstantinos Genidounias due to his marriage, while Hungary is missing goalkeeper Soma Vogel. Montenegro's youthful lineup is also without Konstantin Kharhov and Luka Bukic.

The World Cup has been contested since 1979, initially hosted in Belgrade and Rijeka. Hungary is the most successful nation with four titles and nine medals, followed by Serbia, Spain, the USA, the USSR, and Yugoslavia, each with two titles.