FIFA is pressing ahead with its controversial $20 billion plan to introduce private investment into the World Cup and other tournaments, despite a fierce backlash and boycott threat from European football's governing body, UEFA.
Key Points
- FIFA is moving forward with its plan to bring private investment into the World Cup and other tournaments, defying strong opposition from UEFA.
- The proposal involves creating a $20 billion subsidiary, FIFA Forward Enterprise, to oversee commercial and event operations, with up to 20% stakes offered to external investors.
- UEFA, along with its 55 member nations, voted to boycott all FIFA tournaments, accusing FIFA of putting the sport's "soul" up for sale.
- FIFA stated that "Nobody is selling football" and emphasised that all 211 Member Associations should have a say in the proposal.
- The world governing body believes its planned consultation process was disrupted by "incorrect media reports" and aims to ensure MAs vote based on facts.
FIFA said on Friday it would move forward with its consultation process to bring private investment into the World Cup and its other tournaments in defiance of a fierce UEFA-led backlash against the proposal.
FIFA's Investment Proposal
The world soccer governing body on Tuesday announced it planned to create a $20 billion subsidiary to run the World Cup and its other events, offering external investors stakes of up to 20%. Under the plan, FIFA would establish FIFA Forward Enterprise to oversee commercial and event operations.
UEFA's Strong Opposition
The proposal drew strong criticism from regional confederations, which said they had been blind-sided by the plan to bring private investors into the sport.
"Our planned consultation process was disrupted by incorrect media reports. We will proceed with this consultation process to ensure that each MA (Member Association) has the ability to express its vote based on facts," FIFA said in a statement.
European soccer's governing body UEFA, which accused FIFA of putting the sport's "soul" up for sale, on Thursday voted to boycott all FIFA tournaments, along with its 55 member nations.
FIFA's Response to Criticism
"Nobody is selling football. This is not something FIFA would ever entertain," FIFA said.
"Everyone has the right to express their opposition and to seek further clarification but no single entity can claim to represent all 211 MAs around the world. Each MA should be allowed to review the proposal and have a say in shaping their own future. These are the democratic principles of FIFA."
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Source: Rediff.com
