RESOLVING THE LEDGER
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Topline A controversial plan by FIFA President Gianni Infantino to sell up to a 20% stake in the World Cup will need the “yes” votes of 106 teams to become a reality, but 55 European members have already said they’re firmly against the proposal and dozens more say they have serious concerns—muddying the path to a majority.
FIFA has said it plans to raise an estimated $4.2 billion this year by selling a reported 20% minority stake in a new subsidiary—called FIFA Forward Enterprise—at an equity valuation of $20 billion.
The deal has drawn significant criticism from soccer fans, analysts and other governing bodies, who say the sport " is not FIFA's to sell " and have said they worry investors could create pressure to maximize revenue.
The process itself has also infuriated soccer confederations, who say the proposal was developed without consulting the groups it will impact, and Carlos Cordeiro, a senior Infantino adviser, resigned Friday in protest of the proposal.
Infantino will need a majority of FIFA's 211 member votes, so at least 106, to vote "yes" on his proposal for it to move forward, and the 55 members of UEFA Europa League have already confirmed they’ll unanimously vote against it (and boycott all FIFA competitions in protest).
CONCACAF , which oversees football in North, Central America and the Caribbean, has suggested its 35 votes will also be “nos” after expressing “deep concerns about the lack of due process.”
The Asian Football Confederation on Friday joined the other two associations in criticizing the proposal and while all 41 of its votes aren't necessarily locked in, a senior soccer official told the Telegraph that its intervention was the “killer punch” to the deal.
“It’s dead and buried,” an unnamed official told the Telegraph.
131. That’s how many votes associations have suggested will be against the Infantino deal, ensuring it doesn’t go forward. No FIFA member associations have publicly committed to voting “yes," but some—like Football Australia and New Zealand Football—have yet to take public positions.
Under the plan, which FIFA announced Tuesday, the 211 member associations would each be given $20 million in funding, the organization said, and annual funds to members would continue increasing through 2038. FIFA said it would remain the primary owner of the new subsidiary and maintain control over scheduling competitions and matches, as well as governance and regulatory decisions. The investor group would be led by Thrive Eternal, a fund created by Josh Kushner’s Thrive Capital. A report from The Times said the new plan could make Infantino the commissioner or chief executive of the new company after his FIFA presidential term expires in 2031, setting him up for a salary in the tens of millions.
FIFA member associations must vote on the plan by Sept. 19.
UK Prime Minister Andy Burnham on Friday reportedly called for Infantino to resign after the British government stood by the UEFA's decision to boycott. Burnham said the scheme made clear Infantino “is the wrong man to lead the organisation.” British broadcaster Piers Morgan, who said he once thought Infantino was "a force for good in football," also called for his resignation. "His greedy, tawdry attempt to flog off the World Cup is beyond the pale," Morgan said.
A FIFA brief published Friday revealed the agency is also considering expanding the World Cup to 64 teams (rather than the current 48). FIFA is commissioning a study from an independent agency to consider the possibility for the 2030 World Cup, and findings are due Sept. 11. Experts have noted an expansion of the tournament would greatly benefit the private investors Infantino is looking to bring in, who would be buying a stake in the commercial business that encompasses broadcast, sponsorship, ticketing and licensing rights. More games would mean more tickets to sell, more expensive broadcasting rights, higher sponsorship fees and a bigger global audience, which would in turn benefit investors.
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