UEFA has strongly criticised FIFA’s plans to bring private investors into the commercial operations of the World Cup and other major competitions.
FIFA plans to create a new subsidiary, FIFA Forward Enterprise, valued at about 20 billion dollars, and offer external investors a minority stake of up to 20 per cent. The subsidiary reportedly has ties to President Trump’s extended family.
The venture would oversee commercial activities including broadcasting, sponsorship and ticketing, while FIFA says it would retain control of football governance and competition decisions.
UEFA has accused FIFA of putting the soul of the game up for sale and raised concerns about a lack of transparency and consultation. Several national football associations have also expressed alarm. England’s Football Association said Wednesday it was “deeply concerned about the lack of process and governance.”
FIFA says the proposal is aimed at expanding investment and distributing more financial benefits across the global game. The plan has yet to be finalised.
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