FIFA Crisis: UEFA say NO to proposal
· The South African
The unanimous decision follows a proposal from FIFA president Gianni Infantino to allow private investors to buy a minority stake in a new commercial entity linked to the World Cup and other major tournaments.
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UEFA REJECTS FIFA PROPOSAL
According to UEFA, no European national team will take part in any FIFA competition while the proposal remains on the table.
FIFA wants to create a new commercial company called FIFA Forward Enterprise (FFE). The entity would manage major tournaments, including the men’s and women’s World Cups and the expanded Club World Cup.
The governing body plans to sell up to a 20 percent stake to private investors. The move could raise around $4.2 billion.
Reports claim Thrive Eternal, a United States private equity firm founded by Joshua Kushner, was expected to lead the investment group.
To win support, FIFA reportedly offered each of its 211 member associations a payment of up to $40 million if the proposal is approved.
FIFA FACES GROWING PRESSURE
UEFA rejected the proposal and criticised the process. Europe’s governing body described the plan as “irresponsible and indefensible.”
It believes outside investment could damage the integrity of the sport. UEFA argues that commercial interests should never influence decisions around the World Cup.
Several European nations have backed the stance. The Football Association in England said it stands “shoulder to shoulder” with UEFA.
The reported boycott would deal a major blow to FIFA. A World Cup without countries such as England, Spain, France and Germany would significantly reduce the tournament’s commercial value.
Opposition is also growing outside Europe. Both the Asian Football Confederation (AFC) and CONCACAF have reportedly questioned FIFA’s handling of the proposal.
UEFA says the boycott will remain in place until FIFA withdraws the plans and guarantees that the World Cup’s ownership will not be opened to private investors.