FIFA to proceed with consultation process over sale plans
· RTE.ieFIFA said it would move forward with its consultation process to bring private investment into the World Cup and its other tournaments in defiance of a fierce UEFA-led backlash against the proposal.
The world soccer governing body announced it planned to create a $20 billion (€17 billion) subsidiary to run the World Cup and its other events, offering external investors stakes of up to 20%.
Under the plan, FIFA would establish FIFA Forward Enterprise (FFE) to oversee commercial and event operations.
The proposal drew strong criticism from regional confederations, which said they had been blind-sided by the plan to bring private investors into the sport.
"Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA (Member Association) has the ability to express its vote based on facts," FIFA said in a statement this morning.
European soccer's governing body UEFA, which accused FIFA of putting the sport's "soul" up for sale, yesterday voted to boycott all FIFA tournaments, along with its 55 member nations.
"Nobody is selling football. This is not something FIFA would ever entertain," FIFA said.
"Everyone has the right to express their opposition and to seek further clarification but no single entity can claim to represent all 211 MAs around the world.
"Each MA should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of FIFA," it added.
FIFA's president Gianni Infantino has publicly backed the plan, with an investor group led by Thrive Eternal, founded by Joshua Kushner - the brother of US President Donald Trump’s son-in-law Jared Kushner - waiting in the wings to secure a minority stake in the new venture.
However, promises of huge returns to national associations if FFE goes ahead could surely not be honoured if the men’s and women’s World Cups took place without European involvement, even if Mr Infantino could still muster majority support for FFE.
Any European boycott would first impact the Women’s Under-20 World Cup, due to be staged in Poland in September.
The big FIFA event on the longer-term horizon though is the senior Women’s World Cup in Brazil next summer, with qualifiers due to take place in the autumn.
Mr Infantino has said FFE would help "turbocharge" global football, and FIFA has maintained it would have sole control and ownership of FFE.
Additional reporting by PA