FIFA vows to proceed with private investor plan consultation as opposition spreads
Summary
FIFA plans to continue talking with its members about a proposal to let private investors buy shares in a commercial part of the organization. UEFA, the European football group, has threatened to boycott FIFA events like the World Cup because of this plan.Key Facts
- FIFA wants to create a commercial company that private investors can own part of.
- FIFA says it will hold an open consultation so all member associations can give their opinion.
- UEFA, which manages football in Europe, said it might boycott FIFA competitions in protest.
- FIFA claims it is not selling football and that the consultations are fair and democratic.
- The plan could bring in about $4.2 billion based on a $20 billion valuation.
- Investors might include Thrive Capital and a unit of JP Morgan Chase.
- If approved, FIFA’s 211 members could each get $20 million once and have increased funding from 2027 to 2030.
- FIFA wants to clear up misunderstandings caused by incorrect media reports.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
