FIFA Proposes Selling World Cup Stakes
FIFA proposes selling stakes in World Cup to private investors, drawing criticism from UEFA.
The update
Football’s world governing body FIFA has announced plans to sell stakes of up to 20 percent in the World Cup and other events to private investors. The proposal would create a $20 billion subsidiary called FIFA Forward Enterprise, with FIFA retaining majority control. The plan still needs approval from FIFA’s 211 member nations.
Why it matters
The proposal has drawn fierce criticism from UEFA, European football’s governing body, which called it “crossing a line that football’s governing institutions should never cross.” The plan deepens the divide between FIFA and UEFA, with European officials concerned about commercialization of the sport. FIFA President Gianni Infantino argues the move would increase funds to widen access to football globally.
What to watch
Will FIFA’s member nations approve the proposal? Which investors might participate, with reports suggesting a vehicle founded by Joshua Kushner could lead the investment group? How will this affect ticket prices and fan experience? Will UEFA take further action against the plan?
Sources
- aljazeera.com — FIFA proposal details and UEFA response
- bbc.co.uk — Additional criticism details and investment information