FIFA Not 'Selling Football', Will Proceed With Consultation Process Over Stake Sale
FIFA says each of its 211 member associations could get $40 million if they back the private investment plan by Sept. 19.
- On Friday, FIFA defended its proposed World Cup private equity venture, declaring "nobody is selling football" while blaming "erroneous reporting in the media" for intense public outcry.
- FIFA President Infantino's proposal, revealed on Tuesday, involves spinning off commercial operations into a $20 billion subsidiary called FFE, with 20% owned by private investors.
- European nations agreed yesterday to boycott FIFA competitions, with the European soccer body stating "UEFA and its national associations will not participate in FIFA competitions." CONCACAF and the Asian Football Confederation also rejected the plan.
- Offering to double basic funding from $10 million to $20 million for four years, Infantino wrote on Tuesday to the 211 member associations, with approval required by mid-September.
- The Under-20 World Cup begins Sept 5 in Poland, while FIFA faces a Nov 23 decision on the 2035 Women's World Cup host, where British federations are the only bidders.
151 Articles
151 Articles
Fifa chiefs criticise media for 'misreporting' World Cup sell-off plans
Executives at world football's governing body Fifa on Friday said "incorrect" media reports had "disrupted" the presentation of its proposals to open up the World Cup to outside investors.
Major continental football associations, including Uefa, criticize Fifa in case of selling shares for 27 billion.
FIFA Breaks Silence After Global Backlash Over Gianni Infantino's World Cup Sell off Plan
FIFA has defended itself after facing intense criticism over plans to create a new commercial entity that would allow private investors to take a stake in its tournaments. In a late-night statement issued from its headquarters in Switzerland, football's governing body blamed what it described as 'erroneous reporting' for disrupting its planned consultation process. FIFA insisted that it has no intention of selling football and said the proposal …
"Without the support of most member associations, FIFA's business activities would remain unchanged," the entity says. UEFA, CONCACAF and AFC have already rejected the plan.
FIFA vowed on Friday to continue "open and democratic" consultations on a proposed private investment plan, despite widespread opposition to the proposal.
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