RESOLVING THE LEDGER
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See the full story · 12 sourcesFifa has been strongly criticised by Concacaf, football’s governing body for the Caribbean and North America, along with the Asian Football Confederation (AFC) for failing to consult on its shock plan to sell stakes in the World Cup .
On Tuesday, Fifa said it plans to create a $20bn subsidiary to run the World Cup and its other events and will offer stakes of up to 20 per cent in it to external investors – a move that provoked a furious response from Uefa , which accused Fifa president Gianni Infantino of putting the game’s “soul” up for sale.
Under the plan, Fifa would establish a new entity called Fifa Forward Enterprise to oversee “commercial and event operations”.
Fifa, which just held a 48-team World Cup across North America that was the biggest in the tournament’s history, would retain control of the enterprise, but offer minority stakes in it to private investors to raise up to $4.2bn.
“Concacaf was only made aware of this matter through media reports and, subsequently, via a media release,” a statement read. “We are deeply concerned by the lack of due process.
“We share the disappointment of many within our region and the game that this level of detail has been designed and shared publicly before any discussion with the relevant governance bodies and stakeholders has taken place.
“As leaders within football, we are the custodians of the game. Collectively, Fifa, the Confederations and every Member Association have a responsibility to always act in the best interests of the sport. Every decision we make must be guided by good governance, robust processes and long-term stewardship.
“This is the framework within which Concacaf operates. We trust that all within the Fifa family will act in the same manner.”
Fifa president Gianni Infantino and US president Donald Trump with the World Cup trophy (Bradley Collyer/PA) (PA Wire)
The AFC echoed these concerns, saying: “The AFC was not consulted on the proposal and is disappointed that a matter of such significance entered the public domain before the AFC family had been afforded the opportunity to examine and discuss it through the appropriate and established governance channels.
“While the AFC recognises the importance of exploring innovative approaches that can strengthen the future of global football, initiatives of this scale and consequence must be founded upon the principles of good governance, transparency and meaningful consultation.
“Decisions that may reshape the commercial and financial future of the game require comprehensive prior engagement with Confederations, Member Associations and other relevant stakeholders before any proposal is made to the appropriate decision-making body(ies).
“The AFC firmly believes that all stakeholders should be provided with sufficient information and adequate time to assess the proposal in full, including its governance, legal, commercial and strategic implications.
“Such a process is essential to ensuring that any decision reflects the collective interests of the global football community and reinforces confidence in Fifa’s governance framework.
“As one of global football's six Confederations, the AFC remains committed to the continued growth of world football.”
Uefa officials are holding an emergency meeting this week as they seek to organise a response.
The proposal drew fierce criticism from Uefa, which said the proposal “crosses a line that football's governing institutions should never cross”.
“Uefa takes it extremely seriously,” it said in a statement. “So should every National Football Association. So should every stakeholder: leagues, clubs, players, supporters, governments and everyone who cares about the future of the game.
“The soul and governance of football are not assets to trade – especially with zero transparency as to who gains financially. None of us are the owners of football. It is not Fifa’s to sell.”
Relations have deteriorated between Uefa and Fifa in recent years, and Uefa President Aleksander Ceferin refused to attend the World Cup final following a series of disagreements over disciplinary procedures, refereeing logistics and match operations.
A Fifa spokesperson said the proposal will soon be presented to the 211 member associations and the Fifa Council, which would be the sole final decision-makers on the matter.
Fifa said money from the capital raise would be used to establish an optional program that would allow member associations to access up to $20m in one-off capital to be used for infrastructure, coaching, national teams, competitions, grassroots football and the women’s game. That would rise to $24m by the 2035-2038 cycle.
Infantino, who is up for reelection as head of Fifa next year, said every member association should have the opportunity to seek a fair share of the available funding to shape its own future.
“This is about the democratisation of football worldwide,” he said.
Britain’s new Prime Minister Andy Burnham joined critics of the plan, saying on social media that the sport does not belong to investors.
“The World Cup is not a product. It is the greatest competition in world sport, and it was never anyone's to sell,” Burnham wrote on X. “Dress the deal up however you like. Once you have sold a piece of it, you have sold out.”
The 211 member associations of Fifa have until 19 September to accept the proposal.
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