Donald Trump (L) and Gianni Infantino© Getty Images
European football governing body UEFA slammed reports claiming that FIFA president Gianni Infantino may consider selling stakes in the men’s FIFA World Cup to investors in the future. UEFA went on to say that the proposal will “cross a line” and made it clear that the tournament is “not FIFA’s to sell”. According to multiple reports, FIFA is looking at a structure which will allow it to have majority control over the World Cup while selling minority stakes to the member associations as well as private investors. The reports led to massive criticism from fans while UEFA took a hard stance against the possible proposal.
“This crosses a line that football’s governing institutions should never cross,” UEFA said in a statement.
“UEFA takes it extremely seriously. So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.”
“The soul and governance of football are not assets to trade, especially with zero transparency as to who gains financially.”
“None of us are the owners of football. It is not FIFA’s to sell,” the statement added.
According to a report by The Times, the proposal will allow Infantino to become “commissioner” of the World Cup even after his presidency ends in 2031. The report further claimed that the private investment is expected to be led by Joshua Kushner through his venture capital firm Thrive Capital. The firm already acquired stakes in a Major League Baseball (MLB) side.
Joshua Kushner is the brother of Jared Kushner, the husband of US President Donald Trump’s daughter Ivanka Trump.
According to the alleged proposal, FIFA will try to deliver more than 10 billion dollars in football development funding over the next four years through a new commercial subsidiary – FIFA Forward Enterprise (FFE). FIFA would raise up to 4.2 billion dollars from external investors though the sale of minority, non-controlling stakes in the FFE.
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