FIFA defiant over World Cup investment plan, despite UEFA’s vote to boycott
Summary
FIFA plans to bring private investors into the World Cup and other tournaments by creating a new company that would sell up to 20% ownership to outsiders. UEFA and some other regional football groups strongly oppose this plan, with UEFA voting to boycott FIFA events if it goes forward. FIFA says it will continue consulting all member associations before making a decision.Key Facts
- FIFA wants to create a $20 billion company called FIFA Forward Enterprise to run the World Cup and other events.
- Up to 20% of this company’s ownership would be offered to private investors.
- Thrive Eternal, led by Joshua Kushner’s fund, is expected to be the main investor group.
- UEFA’s 55 member associations voted unanimously to boycott FIFA tournaments over the proposal.
- CONCACAF and the Asian Football Confederation also rejected the plan, but only UEFA threatened a boycott.
- FIFA promises that no decisions will be made without majority support from all 211 member associations.
- FIFA offers $40 million to each football association that supports the proposal by September 19.
- Former player Xabi Alonso emphasized that football should remain focused on fans, not private investors.
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