RESOLVING THE LEDGER
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See the full story · 12 sourcesThe English Football Association ( FA ) has said it was blindsided by Fifa ’s proposed plan to sell stakes in the World Cup and has expressed “deep concern” about the whole situation.
Shock news emerged on Tuesday that Fifa president Gianni Infantino intends to sell off part of the World Cup to private investment and create a private company, Fifa Forward Enterprise (FFE), to manage the commercial rights and delivery of the tournament.
Fifa says it would own and control FFE but private investors will be sought to “make minority, non-controlling investments” in the company, meaning every one of its member nations would be able to access $20m (£15m) in “one-off capital”.
Fifa president Gainni Infantino wants to sell off stakes in the World Cup (Reuters)
The private investment group is set to be led by a company founded by Joshua Kushner , brother of Jared Kushner , who is the son-in-law of US president Donald Trump , with Infantino becoming close to Trump during the build-up to this summer’s World Cup.
The FA has now reacted to the news and is frustrated at the process to reach this point.
An FA spokeswoman said: “We were completely unaware of this proposal and have no substantive details, including what the proposition actually is, and what conditions are attached.
“Based on the limited information, we are deeply concerned about the lack of process and governance to get to this point, and the apparent substance and principles involved.
“When the proposal is shared in the full and transparent way now promised by Fifa, we will make our views clear, and comment further.”
Infantino became close to Donald Trump during the build-up to the World Cup (PA Wire)
Fifa’s plan has caused uproar with criticism coming from many sides, including UK prime minister Andy Burnham , but the proposal must now get the approval of its national member associations (MAs) and the Fifa Council.
Associations have until 19 September to accept the plans and Uefa – the governing body for the European nations – has already strongly spoken out against the plan and will hold an emergency meeting with its 55 member associations this week.
The Danish FA (DBU) was another member association to give reaction to the news and is seeking further information before fully committing to a position.
“Like Uefa, the DBU is taking this matter very seriously,” said Danish FA director Erik Brogger Rasmussen. “This is a proposal that we have only read about in the media, but one that could have very far-reaching consequences for international football.
“It is therefore essential that we gain a complete understanding of both the substance of the proposal and the process behind it. Only then will we be in a position to discuss the matter within the DBU and with our colleagues at Uefa, and subsequently form a view on the proposal.”
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