FIFA Pushes Back Against Revolt Over World Cup Share Sale - Internewscast Journal
FIFA Pushes Back Against Revolt Over World Cup Share Sale

FIFA has sharply criticized the media as it pushed back against mounting outrage over a contentious proposal that would allow private investors to buy stakes linked to the World Cup.

In a late-night statement, the governing body claimed that “erroneous reporting” around the proposal had “disrupted [a] planned consultation process.” FIFA did not identify which specific reports it believed were inaccurate.

Despite the fierce reaction, FIFA indicated it still intends to move ahead with a vote on the proposed FIFA Forward Enterprise (FFE), a plan that has already drawn condemnation from dozens of international soccer organizations.

“Our planned consultation process was disrupted by incorrect media reports,” the statement said. “We will proceed with this consultation process to ensure that each MA [FIFA Member Association] has the ability to express its vote based on facts.”

FIFA also rejected suggestions that the proposal amounts to a sale of the sport, insisting: “Nobody is selling football. This is not something FIFA would ever entertain.”

The statement followed escalating opposition to FIFA president Gianni Infantino’s plan, with European nations agreeing to boycott future World Cups. CONCACAF, which includes the United States and Canada, later rejected the proposal as well.

FIFA president Gianni Infantino has faced calls to quit over a plan to sell World Cup shares

FIFA president Gianni Infantino has faced calls to resign over a proposal to sell World Cup shares

FIFA issued a late-night response to furious backlash over the controversial plan to sell World Cup stakes to private investors by blaming the media for the uproar

FIFA responded late at night to the backlash over the private-investment World Cup proposal, blaming media coverage for fueling the uproar

‘We have heard the feedback provided by the respective confederations in relation to the proposed establishment of FIFA Forward Enterprise (FFE) and would like to address the issues that have surfaced since the initial media reporting on Tuesday,’ the FIFA statement began.

‘We respect the feedback and concern aired in public and reaffirm our commitment to an open and democratic consultation.

The statement concludes with a mention of the ‘principles’ that ‘underpin the FFE proposal,’ including ‘unprecedented development funding, truly global ownership of the commercial opportunities of our sport, and full self-determination through a democratic process for all MAs.’

FIFA’s statement was released in the early hours of Friday morning at the organization’s headquarters in Switzerland. 

The widely condemned proposal was in disarray almost immediately as England joined 89 other nations in boycotting future World Cups. By Thursday afternoon, England and the other 54 UEFA nations were in unanimous agreement on the proposal aimed at generating $4 billion (£3.1billion) in investment for FIFA tournaments.

UEFA was backed by the 35 FIFA-registered nations of CONCACA, the Confederation of North, Central America and Caribbean Association Football, who also rejected the plans – although they stopped short of threatening to withdraw from FIFA competitions.

Sources told The Daily Mail that opposition to Infantino’s FIFA presidency is growing within CONCACAF, as the vast majority of member associations have already lost confidence in his leadership.

Infantino has been widely criticized for his decision to put the World Cup 'up for sale'

Infantino has been widely criticized for his decision to put the World Cup ‘up for sale’

To pass the proposal, Infantino would need the backing of 106 member associations. Currently, 90 FIFA members are publicly opposed to the plans. Sixteen more rebels would make it impossible for Infantino to pass his plans.

‘UEFA and its national associations will not participate in FIFA competitions,’ the European soccer body said after an urgent online meeting of its 55 member nations.

The next scheduled FIFA tournament is within weeks in Europe – the Women’s Under-20 World Cup hosted by Poland from September 5.

‘Some things are simply too important to sell,’ UEFA said in a statement. ‘The FIFA World Cup belongs to football. It always will. And so long as Europe has a voice, it will never be for sale.’

The strategy meeting was called to counter Infantino’s offer of $20 million to each of FIFA’s 211 global members, which has to be accepted by mid-September.

Infantino’s secret project was revealed Tuesday to spin off its commercial operations in a new $20 billion subsidiary called FIFA Forward Enterprise (FFE) 20 percent owned by private investors. The core investor would be a New York investment firm created by Joshua Kushner, the brother of Donald Trump’s son-in-law Jared Kushner.

The core investor would be a New York investment firm created by Joshua Kushner (pictured earliere this month in California), the brother of Donald Trump's son-in-law Jared Kushner

The core investor would be a New York investment firm created by Joshua Kushner (pictured earliere this month in California), the brother of Donald Trump’s son-in-law Jared Kushner

Infantino wrote Tuesday to the 211 members – already the effective owners of FIFA as a non-profit association under Swiss law – that if they approve FFE, their promised $10 million basic funding for the next four years will double to $20 million. He projected FIFA funding through 2038 would be $86 million each, instead of about $36 million.

‘This is not merely a profound failure of leadership, but an abdication of FIFA’s duty as the custodian of world football,’ said UEFA, where Infantino was a long-time staffer and its CEO-like general secretary when he was first elected to lead FIFA in 2016.

Infantino’s high-stakes financial gambit now could threaten his previously secure 11-year presidency of FIFA as anger and frustration with him rise among soccer stakeholders, including three of the six continental bodies.

FIFA has set a November 18 deadline for potential candidates to declare in a presidential vote of the 211 members scheduled next March in Rabat, Morocco. 

Meanwhile, officials have said privately that Infantino is eying a lucrative commissioner-like role at the FFE spinoff beyond 2031.

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