Now Reading: FIFA defends investment plan as UEFA, CONCACAF revolt
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FIFA defends investment plan as UEFA, CONCACAF revolt
FIFA on Friday defended its proposal to sell minority stakes in a new commercial subsidiary, saying “nobody is selling football” and that the consultation process had been “disrupted by incorrect media reports”.…
The Story in Brief
FIFA on Friday defended its proposal to sell minority stakes in a new commercial subsidiary, saying “nobody is selling football” and that the consultation process had been “disrupted by incorrect media reports”. The plan, called FIFA Forward Enterprise (FFE), would raise USD 4.2 billion from private investors for a stake in the entity valued at around USD 20 billion.
The Union of European Football Associations (UEFA) has declared that its 55 members will not participate in FIFA competitions while the proposal remains, and CONCACAF’s 41 members also rejected the plan. With UEFA and CONCACAF together holding 96 of the 106 votes needed for approval, FIFA has withdrawn the proposal. The Times Now reports that the investor was set to be Thrive Eternal, a fund tied to Joshua Kushner, son-in-law of US President Donald Trump. The Asian Football Confederation has also expressed apprehensions.
The Indian Opinion
Both sides in this FIFA row are spinning hard. Critics call it selling the soul of the game, but FIFA says it is just offering member associations a share of commercial upside. Yet the same critics who denounce private equity were silent when state-owned oil money and authoritarian regimes bought the World Cup hosting rights. The real test is not who funds FIFA but whether the 2027 election will be decided by cash offers or genuine football development. Watch how many of Asia’s 47 votes hold against Infantino when the ballot comes.
Sources (3): thehansindia.com, timesnownews.com, thehindu.com
This story was synthesised by AI from the 3 sources linked above.
