UEFA: has launched a scathing attack on FIFA president Gianni Infantino’s ambitious proposal to create a $20 billion commercial company to manage the World Cup and other major tournaments, saying football’s governing institutions have crossed a dangerous line.The European football body reacted strongly after FIFA officially unveiled plans for the FIFA Forward Enterprise (FFE), a new entity that will seek up to $4.2 billion from private investors in exchange for a minority, non-controlling stake in the business, valued at $20 billion.The proposal immediately raised concerns about the future of football ownership and management, with UEFA questioning the transparency behind the project and warning against the commercialization of the sport’s biggest competition.
“Selling is not FIFA”
In an unusually blunt statement, UEFA explained its opposition.“This is not for sale to FIFA,” the governing body said according to the AP report. “None of us own the football.”The organization also warned that the proposal threatens the long-term governance of the game.“The soul and governance of football are not assets for sale – especially with zero transparency on who gets the financial gain,” UEFA said while responding to reports of FIFA selling stakes linked to its competitions.Criticizing the development, UEFA added that it viewed the reports “very seriously. So does every national Football Association.”The statement ended with another sharp warning. “It crosses a line that football governing bodies should not cross.”UEFA represents 55 national associations, making it one of FIFA’s most influential confederations.
FIFA defended the investment plan
FIFA, on the other hand, insists that the project is designed to strengthen global football instead of privatizing it.According to the governing body, the proposed FIFA Forward Enterprise will manage competitions such as: FIFA World Cup and the Club World Cup, while raising fresh capital from carefully selected long-term investors.Investment bank JP Morgan is working with FIFA on the project, while prospective investors reportedly include Thrive Eternal, launched by Joshua Kushner. Joshua is the brother of Jared Kushner, son-in-law of the US President Donald Trumpfurther prompting scrutiny of FIFA’s political and commercial connections.FIFA said the 211 member associations must approve the proposal and each will receive up to $20 million in capital if the plan is adopted.Defending the initiative, Infantino said. “It’s about the democratization of football around the world.”
Echoes of the failed FIFA proposal in 2018
This is not the first time that Infantino has tried to bring private investment to FIFA competitions.In 2018, he proposed a confidential $25 billion partnership backed by Japan’s SoftBank to launch new global tournaments, including an expanded Club World Cup. That proposal eventually collapsed after fierce opposition from UEFA, which feared it would destroy the Champions League and European Championship.Despite that failure, Infantino later expanded the Club World Cup and strengthened FIFA’s commercial relationship with Saudi Arabia, which will host the 2034 FIFA World Cup.