FIFA defended its proposed private equity initiative for the World Cup early Friday, asserting that “nobody is selling football” amid widespread criticism within the international soccer community.
FIFA attributed the public backlash to “inaccurate media reporting,” insisting that the uproar surrounding its plan to offer stakes in soccer’s premier tournament to private equity investors was unfounded.
In an official statement, FIFA acknowledged the concerns expressed and reaffirmed its commitment to a transparent and democratic consultation process, stating, “We value the feedback shared publicly and will ensure all member associations can express their votes based on accurate information.”
The organization indicated it would reconsider the private equity plan, termed the FIFA Forward Enterprise (FFE), if the 211 member associations do not consent to it.
“FIFA’s commercial operations will remain unchanged if FFE is not established. No one is selling football. This is not something FIFA would ever consider,” the statement explained.
In a gesture of protest against President Gianni Infantino’s proposal, European nations announced on Thursday that they would boycott the World Cup as well as all other FIFA tournaments.
“UEFA and its national associations will not participate in FIFA competitions,” the European soccer governing body declared following an emergency virtual meeting with its 55 member nations.
The next FIFA event is slated for just a few weeks from now in Europe—the Women’s Under-20 World Cup, which will be hosted by Poland, beginning on September 5. Additionally, the four UK federations are the sole bidders for the 2035 Women’s World Cup, with a decision expected by November 23.
“Some things are simply too important to sell,” UEFA stated. “The FIFA World Cup belongs to football. It always will. As long as Europe has a voice, it will not be up for sale.”
This strategy meeting was convened to address Infantino’s offer of $20 million to each of FIFA’s 211 global members, which must be accepted by mid-September.
FIFA’s statement emphasized that “everyone is entitled to voice their opposition and seek further clarification, but no single entity can claim to represent all 211 member associations worldwide.”
Later on Thursday, the Confederation of North, Central American and Caribbean Association Football (Concacaf), comprising 41 members, convened and unanimously rejected Infantino’s proposal. This sentiment was echoed by the Asian Football Confederation (AFC) the following day.
Concacaf expressed “serious concerns” regarding the lack of due process surrounding the proposal, the imposed short timeline, and the absence of review or approval from the relevant FIFA governance bodies. They also questioned the necessity of external investment, especially in light of the record profitability of the recent FIFA World Cup.
The AFC released a strong statement calling for an “urgent review” of FIFA’s governance, standing in solidarity with UEFA and Concacaf, and highlighted the “fundamental weaknesses” in FIFA’s consultation and decision-making processes that need addressing.
Infantino’s proposal, which surfaced earlier this week, involves creating a subsidiary for FIFA’s commercial operations in a new $20 billion FIFA Forward Enterprise, with 20% ownership by private investors. The primary investor would be a New York-based investment firm founded by Joshua Kushner, whose brother is Jared Kushner, a senior advisor to U.S. President Donald Trump.
In a letter to the 211 FIFA members—who are essentially the owners of the nonprofit organization under Swiss law—Infantino stated that should they approve the FFE, their anticipated $10 million funding for the next four years will be doubled to $20 million, projecting that FIFA funding through 2038 could reach $86 million for each member, compared to the initial estimate of around $36 million.
On Friday, Carlos Cordeiro, a senior FIFA advisor and former U.S. Soccer president, resigned in protest against Infantino’s plan.
This report includes information from The Associated Press.