Fifa hit by furious backlash over plans to sell stake in World Cup, other football events
Concacaf, AFC concerned by world body’s plan to raise US$4.2 billion through sale of stake in subsidiary, Uefa says move ‘crosses a line’
There was a furious backlash on Wednesday to Fifa’s controversial plans to sell a stake in the business operations of the World Cup and its other competitions through the creation of a private subsidiary.
World football’s governing body had said on Tuesday it would retain a majority share in Fifa Forward Enterprise (FFE) but hoped to raise US$4.2 billion later this year by “carefully selecting long-term investors who will purchase minority, non-controlling interests”.
Various media outlets reported on Wednesday that Fifa president Gianni Infantino had sent a letter to the associations saying they will each receive US$40 million if they back the plan – but they must sign up by September 19.
“In total for the upcoming cycle starting as of January 1, 2027, each member association will have the possibility of access up to US$40 million per member association under this proposal,” Infantino said.
The Times of London – which broke the original story on Tuesday – said sources opposed to the plan had labelled it “pure bribery”.
European governing body Uefa had issued a blunt statement regarding the plan and was due to hold an emergency meeting later on Wednesday, according to France’s sports minister.